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The
monthly payments, which began in July, lifted some 3.6 million
American children out of poverty in October, according to
Columbia University research.
December's check for $300 per child under age 6 and $250 per
child age 6-17, which reached the families of 61 million
children, will be the last monthly payment if a proposed
extension in the "Build Back Better" legislation is not approved
by Congress.
The tax credit is set to revert next year to its prior form: a
lump sum that requires Americans to file a tax return to claim
it, and a reduction to $2,000 annually per child from up to
$3,600 this year. The Treasury in June estimated that families
with as many as 2.3 million children did not file tax returns in
2019 or 2020.
Since July, total monthly disbursements came to $93 billion. In
August, average Child Tax Credit payments were highest in states
that supported former president Donald Trump in the 2020
election.
"The lives of tens of millions of children across the country
have improved because families have received tax relief when
they need it most," U.S. Treasury Secretary Janet Yellen said in
a statement.
As Democrats in Congress struggled to find a path forward on
Biden's $1.75 trillion domestic investment bill, a person
familiar with negotiations said that moderate Democratic Senator
Joe Manchin was objecting to extending the expanded Child Tax
Credit in the legislation.
(Reporting by David Lawder; Editing by Heather Timmons, David
Gregorio and Christian Schmollinger)
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