(CNN) House Democrats are working on legislation proposed by President Joe Biden to expand the existing child tax credit, directing the IRS to send recurring monthly payments to American families, a source familiar with the matter confirmed to CNN. In one draft of the proposal, the IRS would deposit checks worth $300 every month per child younger than 6 and $250 every month per child age 6 to 17. This would give parents $3,000 per year for each child between the ages of 6 to 17, and $3,600 per child under age 6. The changes would last for a year, but lawmakers would then push to make them permanent, another Democratic aide said. The drafting of the proposed legislation was first reported by The Washington Post.

Source: CNN January 23, 2021 18:12 UTC