Taxes
Families Face ‘Devastating’ Hit as Monthly Child Tax Credit Ends
- Expanded credit ends amid elevated prices, Covid cases
- Parents could be waiting months for child credit, tax refunds
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Millions of American families on Friday are going without a monthly benefit introduced by the Biden administration last year that many came to depend on amid a surge in the cost of living and the continued spread of Covid-19.
It’s the first in what could be a series of missed payments unless Democrats can make headway on legislation carrying President Joe Biden’s signature economic proposals that’s now stalled in Congress.