LAS VEGAS (KLAS) — Payments for nearly 60 million children totaling $15 billion went out Thursday. It is a part of the first installment of the increased child tax credit.
The monthly payment is part of the American Rescue Plan that congress passed in March. Families are eligible for up to $2,000 for kids under six and $3,000 for older children.
Half the money will be paid out over six months, and parents will have to claim the rest on their tax returns.
To qualify, families have to make under a certain amount. For a married couple filing jointly that is $150,000 or less.
This extra money is making a world of a difference for several families struggling to make ends meet in our area.
For the first time in a long time, Dwayne Walker and his 9-year-old son, Tressan, are not putting off back-to-school shopping. He is thankful for the child tax credit.
“I probably would have had to get a big notebook, so I didn’t have to get another notebook,” said Tressan.
It is the simple things, like an extra notebook, that feel like luxury items for the Walker family.
“There really isn’t much room for extra, it comes almost to the tip of the glass but luckily we ain’t spilling,” said Dwayne.
Dwayne is a single dad, who works as a driver, but it is still not enough to pay all the bills. Sometimes he cannot get everything on his grocery list.
“I realized suddenly the things I would normally buy I didn’t have enough for so I had to start putting things back individually,” Dwayne said.
8 News Now was on the phone with Dwayne when he received his $250. The sense of relief was evident.
“The timing is perfect, I was hustling really hard the last week,” Dwayne said. “My head was just above the water and that was my life raft it came floating along.”
He says although bills are consistent, money is not. But now, he has some extra.
“Security is one of the greatest comforts you could have and it offered that,” Dwayne said. “I am secured for now.”
Many of you reached out to 8 News Now that you did not receive the tax credit. It may take a few days to hit your bank account.
If you got your stimulus check previously through the mail, then that is how you will receive the credit.