One of the things President Joe Biden and his administration hope to do is extend child tax credits into 2022 as part of the Build Back Better agenda.
Biden is currently negotiating the terms of the bill with Congress. The original spending for the bill was $3.5 trillion, and is now down to $2 trillion as he struggles to find an agreement among moderates and progressives.
The child tax credits started in July, and Biden had hoped to continue them through to 2025.
One of the goals of his administration was to keep the increased credit for all families that made over $110,000 and provide a maximum credit of $3,600 per child.
Democrats and Republicans both appear to be divided on the issue, with some agreeing it will help families, and others feeling it will deter people from working and instead collect “free” money.
While the future is yet to be determined, there are two more child tax credits left for the year, and then the rest of the child tax credit will be given to taxpayers in their 2022 tax returns.
Related: Will you get smaller Child Tax Credit checks for the rest of 2021?
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