New $3,000+ stimulus payments are coming + Jared Paul Stanga - iCkEdMeL

The Biden administration has now shared an important announcement involving the date when millions of families will start getting a new stimulus check on a monthly basis going forward, as a byproduct of the $1.9 trillion stimulus law that was enacted back in March.

We’ve noted on a number of occasions now how big a deal it is that the federal child tax credit was expanded as part of that stimulus law, given that it will now provide families as much as $3,600 over the course of a year for each eligible child. That will be done via monthly checks, which the Biden administration now says will start being sent out on July 15. And depending on the age of the children, those checks will generally be for either $250 or $300 per child.
According to the announcement from the Treasury Department, these payments will be made on the 15th of each month, starting in July, unless the 15th falls on a weekend or holiday. This will allow “families who receive the credit by direct deposit to plan their budget around receipt of the benefit.” The Treasury Department goes on to note that “Households covering more than 65 million children will receive the monthly (child tax credit) payments through direct deposit, paper check, or debit cards, and Treasury and the IRS are committed to maximizing the use of direct deposit to ensure fast and secure delivery.

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