Rep. Sean Patrick Maloney released the following statement on Friday reminding parents to be on the lookout for advanced monthly Child Tax Credit payments. Starting July 15, these payments of up to $300/month per child will start arriving in folks’ mailboxes and bank accounts. The American Rescue Plan, which Rep. Maloney voted to pass this March, has authorized this expansion to help the Hudson Valley to rebuild its economy and get hardworking families back on their feet.
“The past year has been a trying time for most working New York families. But more help is on the way,” said Rep. Sean Patrick Maloney. “These additional monthly payments will help ease the burden of childcare, put food on the table, and deliver much needed support to parents. Setting families up for success is key to our recovery.”
The Credit Tax Credit will save lives. In the 18th district alone, this credit will affect over 128,600 children. It will lift 7,800 out of poverty and 2,200 out of deep poverty.
Families will qualify for a full credit if their income is below $75,000 for single filers, $112,000 for people filing as head of household, or $150,000 for people who are married and filing jointly. Beginning in July and running through December, qualifying families can get up to:
- $300 a month per child for children ages 0 to 5.
- $250 a month per child for children ages 6 to 17.