We all know that raising kids is expensive. An extra $250-300 a month can go a long way in helping families provide food and clothes, and paying for child care and rent.
This year many families are receiving that extra income due to the restructuring of the Child Tax Credit (CTC). Part of the American Rescue Plan passed by Congress in March, it made CTC payments larger -- up to a total of $3,000 per child ages 6-17 and $3,600 for children under six. It also allowed more families to be eligible. The result has been that millions of families have been lifted out of poverty nationwide. While many families are receiving the payment, there are some who do not know they qualify.