The monthly stimulus payments of up to $300 per child are starting. The U.S. Treasury will pay the amounts from July through December. Sen. Dick Durbin says it’ll bring 338,000 Illinois children out of poverty.
The payments are actually advances on this year’s child tax credits, but they’re based on assumptions that the tax payer has the same income as last year. Any tax payer whose income has gone up out of the child tax credit range needs to cancel the payments or plan to pay them back next year.