(CNN) Low-income people should register for the expanded child tax credit with the Internal Revenue Service so they can receive up to $300 in monthly payments, which start July 15 , Senate Majority Leader Chuck Schumer said Thursday. Roughly 39 million households, covering 88% of children, will start receiving the monthly payments automatically. Last month, the IRS unveiled a portal that allows low-income families to register to receive the enhanced child tax credit. The Democrats' American Rescue Plan beefed up the existing child tax credit, giving families up to $3,600 for each child under 6 and $3,000 for each one under age 18. The relief package also makes the tax credit fully refundable so that more low-income parents can take advantage of it.

Source: CNN July 08, 2021 21:45 UTC