May 17, 2021, 2:33 PM
(From The Washington Post) The Biden administration announced today that roughly 39 million American families will begin receiving direct cash payments under a new child benefit created by Democrats’ coronavirus relief bill. Starting July 15, the Internal Revenue Service will start delivering a monthly payment of $300 per child under 6 and $250 per child older than 6 for those who qualify. The monthly benefits will be deposited directly in most families’ bank accounts on the 15th of every month for the rest of the year, without any action required. Administration officials estimate that the benefit will reach more than 65 million children — or 88% of all U.S. kids nationwide.
Listen to the latest episode of the Net Assets podcast.
