YOUNGSTOWN, Ohio (WKBN) – If you’re a parent of children 17 or under there’s a provision in President Joe Biden’s COVID-19 relief bill that will soon mean more money for you.
Starting July 15, the money will be directly deposited into accounts or checks will be mailed.
Monday afternoon, Congressman Tim Ryan held a news conference at the Youngstown Business Incubator to let people know what to expect.
Ryan was joined by Shelia Triplett, director of the Mahoning Youngstown Community Action Partnership, commonly called MYCAP.
“Let’s be very, very clear, this is a straight middle class, working class tax cut,” Ryan said.
“This is going to impact working families, the families that we see every day at MYCAP,” Triplett said.
Ryan laid out the money to come. The expanded child tax credit is up to $3,600 a child for ages infant to five and $3,000 a child for ages six to 17. That’s $300 a month for the younger kids and $250 a month for the older ones.
Families will qualify if their income is below $75,000 for single filers, $112,000 when filing as head of household or $150,000 for people married and filing jointly.
The money will be paid monthly through December, with the remaining amount coming after people file their 2021 tax returns.
“What we’ve seen in the shift with COVID is that many more of these working families are the ones who suffered in COVID and they’re coming, many for the first time, to seek rental and mortgage assistance,” Triplett said.
Ryan was asked if he thought giving people more money would delay them from re-entering the workforce.
“I think this is going to actually encourage people to go back into the workforce. The federal government $300 is going away in Ohio. These folks are working. Yes, it’s based on previous tax returns, but if we’re going to keep it rolling, they need to be out and be working,” he said.
Ryan said he would like to see the expanded child tax credit made permanent. He said making it permanent would tell Americans that if they’re working hard and doing everything right, work is going to pay.