U.S. Government‘s Financial Aid: The Child Tax Credit Enhancement in 2021
How President Biden’s Law Boosted Child Tax Credit Benefits – Supporting Struggling Families
According to The Motley Fool, in 2021 amid economic hardship President Biden and the U.S. government passed a law to help struggling families. One key change was improving the child tax credit raising it from $2,000 to $3,000 or $3,600 per child and making it fully refundable even for families who didn’t owe taxes. The child tax credit was crucial support for families facing financial challenges.
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$3,000 to $3,600 Child Tax Credit: Boosted Benefits For Families – Here’s What You Need To Know! (PHOTO: Ramsey Solutions)
The Future of Enhanced Child Tax Credit – Continuing the Fight for Financial Support
President Biden aims to enhance the child tax credit after its helpful impact during the pandemic. Though the child tax credit support ended in 2021 lawmakers are striving to reinstate it. Families can still access the regular child tax credit in 2023 alongside exploring options like the earned income tax credit and child and dependent care credit for financial assistance.
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