New monthly child tax credits begin July 15th

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LANSING, Mich. (WLNS) — Millions of families across the country will soon be getting monthly payments. That’s because of the new child tax credit created by the COVID relief bill. The first child tax credit payments go out July 15th.

Anita Cobb has three children, and says she works two jobs to take care of them.
Cobb says finances are always tight especially during the pandemic.

“There’s always something that I need to pay for. and it’s so funny that I work my second job because I tell them my kids are expensive. That’s why I work a second job,” Cobb said.

Cobb say’s this years tax credit will be life changing. For the first time ever the child tax credit becomes monthly. Senator Debbie Stabenow says the credit is expected to help thousands of families in Michigan.

“There is no question. people are saying it’s going to make a dramatic difference in their lives,” Sen. Stabenow said.

Families will receive $300 a month for every child under 6 and $250 for every child up to 17 years.
The credit will phase out the more money families make.
Joe Garcia, the CEO of Cristo Rey Community Center, that houses a financial empowerment center, says these payments give families the flexibility they need to plan ahead.

“I love the idea of what it does for options for families and I’ll tell you I really think this is a representation of government listening to constituents because this is a way that directly helps the family,” Garcia said.

For Cobb a program that helps feed her family is one worth keeping.
“We are doing the best that we can but every little bit helps. some of us just want to feel that little piece of normal and that come from making sure that our finances are secure,” she said.

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