According to

President Joe Biden is expected to push for a long-term extension of the child tax credit that would keep $300 monthly payments in place until 2025.  According to CNBC.  Biden wants to extend the credits as part of a soon to be announced American Families Plan.

This will most certainly help out a lot of families with these extra tax credits.  It's not a done deal quite yet, but I'm pretty sure President Joe Biden is going to work hard to make this happen.

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I've been using the child tax credit for the past several years for both of my kids.  I don't completely understand how it all works, that's why I go to my tax man who explains everything to me. also adds:

While the plan has not been officially unveiled, a source close to the administration confirmed the tax credit plans earlier this week.  Along with extending the tax credit, the plan would also make money available for child care, paid leave and pre-K education.  The American Families Plan will include roughly $1 trillion in spending and $500 billion in tax credits.

With millions of Americans struggling right now during the coronavirus pandemic, all of these essential tax credits couldn't come at a better time. also tells us:

As part of the expansion, the credit increases the value from a maximum of $2,000 per child to $3,000 for each child aged 6 to 17 and $3,600 for children under 6.  If a qualified married couple has three children aged between 6 to 17, they can expect to receive $250 per child or a total of $750 per month for six months.

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