Ctc Increase 2024
Washington — the house voted wednesday night to pass a $78 billion tax package that includes an expansion of the child tax credit, sending it to the senate, where its path is uncertain. Each payment will be up to $300 per month for each child under age 6 and up to $250 per month for each child ages 6 to 17.
The american rescue plan increased the amount of the child tax credit from $2,000 to $3,600 for qualifying children under age 6, and $3,000 for other qualifying children under age 18. The amount increases to $1,900 in tax year 2024 and $2,000 in tax year 2025 and includes inflation adjustments for those two years.