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First federal child tax credit funds go out today


By Suzanne Potter
This story was originally published by Public News Service.

The first payments from the extended Child Tax Credit will hit most families’ bank accounts today, providing much-needed relief for some Nevadans as they recover from the pandemic.

More than 475,000 children in Nevada will benefit, as their families receive between $250 and $300 a month per child.

Rep. Susie Lee, D-Nev., said she was proud to support the credit, included in the American Rescue Plan.

“This is money that doesn’t have strings attached,” Lee explained. “It can go for buying groceries, to helping you pay rent, to pay for child care. It is simply money in the pockets of hardworking families with children. “

The credits are worth between $3,000 and $3,600 per family over the next six months. Half will be paid out monthly; the other half will show up on next year’s income-tax return.

Rep. Steven Horsford, D-Nev., said the vast majority of Nevada families don’t need to do anything to qualify.

“These payments will be automatic for most families,” Horsford pointed out. “The families that haven’t filed taxes recently or who changed their bank information will need to visit IRS.gov and provide some basic information to ensure that they receive payments in a timely manner.”

Congress will decide whether to make the tax credit permanent as part of the debate about the Biden administration’s next spending bill.

Ben Challinor, policy director for Faith in Action Nevada, said the credit is expected to cut child poverty in half.

“We’ll continue to feel the effects of the pandemic for years,” Challinor asserted. “Which why we must do everything we can to make sure that these payments don’t stop at the end of the year. And because the recovery of Nevadan families will depend on it, and the future of our children will depend on it.”

According to the federal Bureau of Labor Statistics, in May, more than 122,000 Nevadans were out of work, an unemployment rate of 7.8%.

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