Starting July 15, most Ohio parents will begin to see $250 or $300 in their bank accounts, every month from now until the end of the year.
It’s part of the dramatic expansion of the Child Tax Credit (CTC) we passed in the American Rescue Plan this spring.
This was one of the biggest victories for working families in decades, and over the past week, I’ve met with parents across Ohio to talk with them about the positive difference this is going to make in their lives.
From childcare, to health insurance, to transportation – let alone trying to put money away for college – a hard day’s work doesn’t begin to cover expenses for so many parents. These tax cuts finally recognize that caregiving is work – it’s the work that makes all other work possible. And the credit will give families a little extra security every month, to keep up with all the costs of raising a family.
If you filed your taxes this year, you don’t need to do anything. Middle class and low-income parents should keep an eye on your bank account, and starting July 15th, you should see $250 deposited in your account for each child, and $300 for each child under age 6.
If you didn’t file taxes this year, you are still eligible to claim the CTC you earned. Go online to childtaxcredit.gov, to find more information about how you can claim your $250 or $300 or $500 or $600 a month, depending on how many children you have and how old they are.
We also know parents’ expenses are not going away in a year. That’s why I’m fighting to make these tax cuts for working families permanent, and to lift up the voices of Ohio parents. One mother talked about how this will allow her to afford to child care and go back to work full-time. Another works three jobs to make ends meet, and now she’ll be get by on two jobs instead of three, to spend more time with her kids. A mom in central Ohio talked about how this would give their family the extra cushion they need to save for her daughter’s future.
I’ve worked to expand these tax credits for years, because they’re one of the most effective tool we have to reward work and put money in Ohio families’ pockets – and that money gets spent in local economies, not hoarded in overseas bank accounts.
Americans have spent years watching politicians in Washington hand out tax cuts to corporations and the wealthiest tiny sliver of the country. The Child Tax Credit benefits the vast majority of Ohio families – 92 percent of Ohio kids’ families are getting a tax credit. I’ll continue working to make this expansion permanent, and to put our government back on the side of the people who make our country work.