Skip to content
Equality
Solutions

The Child Tax Credit Is Ending Just as Inflation Hits New Highs

The last of six monthly payments, up to $300 per child, is scheduled to hit bank accounts on Wednesday.

White House Agenda Gains Senate Ground With Big Hurdles Remaining
Photographer: Al Drago/Bloomberg
Updated on

The looming expiration of President Joe Biden’s child tax credit will have a lasting negative impact on many American families, with millions of children at risk of slipping back into poverty, according to research from the Center on Budget and Policy Priorities. 

The last of six monthly payments, up to $300 per child, is scheduled to hit bank accounts on Wednesday. If not renewed in the new year, the financial hit will come just as inflation approaches highs not seen in decades.