New Jerseyans will receive extra cash every month thanks to American Rescue Plan

Families should start receiving child tax credit payments on July 15

This week tens of thousands of households across the state will open their mailboxes and find a check. Some families will receive two. One will be a federal child tax credit slated to cut child poverty in half in New Jersey and the United States. The other will be a state rebate that was promised last year as part of a deal to raise taxes on millionaires.

It comes just as advocates say low- and moderate-income families need it most. The law provides as much as an additional $1,800 per child to be paid out next year. Who’s eligible? Married households making up to $150,000 a year; anyone filing head of household with a yearly income of $112,500; single filers making up to $75,000 a year.

In addition, many New Jersey households will get a $500 tax rebate in an effort to help low- and middle-income families climb out debt. According to community advocates, the extra funds will help nearly 1.6 million children across the state, many who are children of color.

 

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