Vermont families have 1 week to file for new child tax credit
MONTPELIER, Vt. (WCAX) - Vermont families have a week to file for a new tax credit which could lift thousands of kids out of poverty.
In the American Rescue Plan, families are eligible for thousands of dollars under the expanded child tax credit.
Every family will get monthly payments of $300 for each child under 6, and $250 for each kid ages 6-17.
You can spend the money on things like rent, food, child care, transportation and other expenses.
Vermont Congressman Peter Welch says you have until Mon., May 17, to file tax forms to get that benefit.
“The IRS has to have your information from your tax filing form. So Vermonters, if you have kids and you want to get this child tax credit and it’s going to be helpful to you, so please, please, please do this-- file your taxes,” said Welch, D-Vermont.
About 120,000 Vermont children will be eligible for the credit and Welch estimates that it will lift nearly 4,000 kids out of poverty.
The $110 billion program is only for 2021 but President Biden is proposing expanding it for another four years.
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