150,000 Families in Hawai‘i Will Get Child Tax Credit in July
Advance payments of the Child Tax Credit begin today, July 15, with more than 150,000 families in Hawaiʻi expected to get a credit this month.
The credit is the first in a series of monthly payments totaling about $65 million for Hawaiʻi families to help 257,000 children thrive. Nationwide, tens of millions of families, covering nearly 60 million children will benefit from the monthly payments.
For every child 6-17 years old, eligible families will get up to $250 each month, and for every child under 6 years old, eligible families will get up to $300 each month.
The American Rescue Plan provides the largest ever Child Tax Credit: $3,000-$3,600 per child for nearly all families over the course of a year.
All working families will get the full credit if they earn under $150,000 for a couple or up to $112,500 for a family with a single parent (also called Head of Household).
“The expanded Child Tax Credit is a major step forward in tackling child poverty,” according to the Biden Administration. “Prior to the American Rescue Plan, low- income families often got a smaller child tax credit than families with higher earnings. Now, the families of over 26 million children will get the full, expanded credit.”
The expanded Child Tax Credit is currently only for 2021, but President Biden is advocating for the extension of the new Child Tax Credit for years to come.