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Monthly Child Tax Credit Payments and New Credit for Other Dependents

This Act establishes a new, fully refundable monthly Child Tax Credit, replacing the previous annual credit. Families will receive regular, advance monthly payments. Additionally, the Act creates a new $500 credit for other dependents who do not qualify as children.
Key points
Monthly Payments: Instead of a single annual credit, families will receive money every month ($300 per child aged 6 and older, $360 per child under 6).
Credit Amount: The annual credit is up to $3,600 (for children under 6) or $3,000 (for children aged 6-17).
Refundability: The credit is fully refundable, meaning even families with no income tax liability will receive the full amount of support.
Income Limits: Payments begin to phase out for joint filers earning above $150,000 annually (or $112,500 for other filing statuses).
New Dependent Credit: A new annual credit of $500 is introduced for each dependent who is not a qualifying child.
Payment Protection: Monthly advance payments are protected from garnishment, levy, and offset for federal or state debts (with certain exceptions).
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Introduced
Citizen Poll
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Additional Information
Print number: 119_S_1393
Sponsor: Sen. Bennet, Michael F. [D-CO]
Process start date: 2025-04-09