Monthly child tax credit payments will expire at the end of the year if Congress doesn't act investinyou (In partnership with acorns.)
"That's really significant money that could go to support that family," said Cox.
"Monthly payments provide support to families throughout the year," said Cox. "Rent, electricity, food, childcare, transportation — all of these costs occur on a monthly basis."Families don't have much time to prepare for the lapse in monthly payments. "Families do that all the time — they juggle bills, they choose which ones to pay, they forgo opportunities in order to make sure they have enough money to cover their needs in the next month," Maag said.
Congress needs to be aware that when they hold low-income families hostage by not passing important legislation, it is potentially harmful to those families"I would recommend they log into the CTC portal to check their payment status and see what the IRS says as to the amount of payments they have received," said Hackett. Families can also track lost or missing payments, she said.
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