For the first time ever, millions of Americans will be receiving a monthly tax credit payment beginning Thursday. This includes California families which could get up to $300 dollars per month, per child.
Congressman Raul Ruiz held a roundtable discussion with local representatives on what is expected moving forward.
The American Rescue Plan provides the largest child tax credit in history and is being looked at as a major step in tackling child poverty.
“We shouldn’t let taxes go up on working families. We shouldn’t let child poverty continue to stain the conscience or drag down our economy. and so I say to my colleagues in Congress, this tax cut for working families is something we should extend, not end next year,” explained President Joe Biden.
Eligible families will get up to $250 dollars with children between the ages of 6-17. For every child under 6 years old, families will receive $300 dollars.
“Including 43,500 families in our district will receive the first monthly payment of the American Rescue Plan expanded child tax credit,” said Representative Raul Ruiz of the 36th district.
President Biden explaining how the payments are expected to roll out.
“This will be the, they’ll get the first half of this $3,600 starting today, today, today, and it’d be paid out at $600 a month between now, July and December, and then they’ll get the rest of the payment next spring around tax day,” said Biden.
Local residents who took part in today’s roundtable discussion explaining how this money will help their daily lives.
“I’m a mother of four minor children, and we’ve been struggling through these hard times because of the pandemic. I lost my husband due to covid in August of 2020 which was mainly my financial support,” explained Cindy Johnson, parent of five children.
“Money is very tight and there are times where we have to make it stretch to the end of the month where we have to make $20 dollars stretch for gas, so having this will help ease the financial stress for myself as a mom with back to school things, and gas expenses, groceries, monthly bills. it will be very helpful and I’m very very thankful,” said Frankie Espinosa, parent.
Local leaders with Find Food Bank explaining how these funds are expected to impact the community.
“It was at this time just last year that thousands upon thousands of people were so drastically affected by the economic impact of covid-19. This money that is coming to them will provide the hope that they need, it will provide that sustainability to be able to pay those utility bills that they need especially during the summertime when it’s 120 degrees out,” said Debbie Espinosa, CEO of Find Food Bank.
The expanded tax credit is currently only 2021, but as President Biden mentioned, they are looking into extending the tax credit for years to come.
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