Child Tax Credit 2022: Could you receive a double monthly payment in February?

Pare not in the United States could have some potential good news on the way, with maybe a double Child tax credit payment on the way in February.

It is thanks to the Build Back Better Bill, which will be put to the vote in January. However, before you start thinking that this is a certainty, it should be noted that various media outlets are not so optimistic.

The hope is that, even if the legislation manages to pass, it is unlikely to be advanced Child tax credit January payments.

Will the bill include child tax credit advance payments?

In 2021, millions of parents in the United States were able to benefit from an advance Child tax credit payments, and it is hoped that the revised version of the Build Back Better Bill will include the extension of the improvement Child tax credit terms of payment, as acknowledged by White House press secretary Jen Psaki.

“If we do this in January, we will talk to Treasury officials and others about the possibility of making double payments in February,” Psaki said, as she spoke to reporters Dec. 17.

“The president wants to see this move forward. It’s a priority for him as soon as Congress returns.”

Benefits for parents

If the advance Child tax credit payments remain in the revised version Build Back Better Bill, parents will be able to receive $600 for each child under the age of six in February and $500 per child between the ages of 6 and 17.

Then, in March, payments would revert to the usual monthly amount parents received in the second half of 2021.

The vote of Senator Joe Manchin is required for the Build Back Better Bill pass and, the latter having expressed his wish to see social spending reduced, the advance Child tax credit payments are in play.

As a study by the Center on Poverty & Social Policy at Columbia University found, progress Child tax credit payment in November lifted 3.8 million children out of poverty.

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Elaine R. Knight