Child Tax Credit 2021: Payments to be disbursed starting July 15 — here's when the money will land
CBSN
The federal Child Tax Credit is kicking off its first monthly cash payments on July 15, when the IRS will begin disbursing checks to eligible families with children ages 17 or younger. The new enhanced credit is part of a government effort to use the tax code to help low- and moderate-income families weather the ongoing challenges of the pandemic.
The IRS and Treasury said it sent payments for almost 60 million children on Thursday, totaling $15 billion. Almost 9 of 10 payments were sent via direct deposit, the agencies said. The tax system "has become a machine for social change," said Mark Steber, Jackson Hewitt's chief tax information officer. "The pandemic supersized that."
President Trump ordered the release of 172 million barrels of oil from the United States' Strategic Petroleum Reserve on Wednesday, after oil prices rocketed to their highest levels in years amid the U.S.'s war with Iran.
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Defense Secretary Pete Hegseth deemed artificial intelligence firm Anthropic a "supply chain risk to national security" on Friday, following days of increasingly heated public conflict over the company's effort to place guardrails on the Pentagon's use of its technology. Jo Ling Kent contributed to this report. In: