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07/12/2021

Report: Monthly child tax credit payments could help retailers — starting soon

Marianne Wilson
Editor-in-Chief
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Retailers could get a boost in spending from enhanced child tax credits, which will start on Thursday and run through December.

The monthly payments will go directly into parents’ and caretakers’ bank accounts, reported CNBC. About 39 million households — which include nearly 90% of children in the U.S. — will begin receiving the payments in July, according to the Internal Revenue Service.

The payments will be $250 or $300 per child, depending on age, for families that qualify for the full amount, the report said. 

To read the full CNBC story, click here.