Treasury Distributes Fourth Child Tax Credit Payments

The American Rescue Plan, signed back in March, increased the annual credit from $2,000 per child to up to $3,600 for some filers.

The fourth child tax credit should start showing up in bank accounts Friday. The monthly checks are slated to stop at the end of the year but the Biden administration is looking to extend the payments until 2025.

Critics question the cost and how the benefits are set up. Research shows the checks have helped reduce financial hardship for low-income families.