One of the COVID-era measures to pour money to Americans to make up for the economic shutdown was the greatly expanded Child Tax Credit of 1921. Parents were allotted $3,000 for each child undeer six and $3,000 for each child aged 6-17. Though crafted as a tax credit, this subsidy was “fully refundable,” meaning that parents–including those who didn’t pay taxes–could take it out as a monthly payment.
The program expired at the end of that year, and, despite Democratic efforts to make it permanent, it was not renewed, Republicans considering it an expensive COVID bailout that is not longer needed. Actually, the Trump administration had already doubled the earlier child tax credit to $2,000 in his tax reforms of 2017, with $1,600 being refundable. That still-generous program is still in effect but it expires in 2025, when the benefit will revert back to $1,000 per child.