The expanded monthly child tax credit introduced in President Biden's $1.9 trillion COVID relief package will begin arriving in parents' bank accounts on July 15, the White House said Monday.
Why it matters: The credit, part of the administration's plan to transform the country's social safety net in the wake of the pandemic, would provide families with $300 monthly cash payments per child up to age 5 and $250 for children ages 6–17.
