House Democrats are working on legislation that would permanently expand the child tax credit to provide thousands per year per child to tens of millions of Americans in the form of monthly recurring payments. President Biden has since out in support of an expansion of the tax credit as part of a coronavirus relief package, but only for one year. The current child tax credit is up to $2,000 per child 16 and under, and it reduces taxes on a dollar-for-dollar basis rather than in the form of a check. Up to $1,400 of the Child Tax Credit is refundable, meaning if taxes are reduced to zero for lower-income families they can get a refund on what is left over. The 2017 Tax Cut and Jobs Act increased the size of the credit for many families and the amount that is refundable.

Source: Fox News January 23, 2021 22:18 UTC