March 18 2024- The American Rescue Plan expanded the Child Tax Credit in 2021 to reduce child poverty by supplementing family earnings and making the credit available to more families. Key revisions include increasing the credit amount to $3,600 for children under 6 and $3,000 for children under 18, making the credit fully refundable for low-income households, and expanding the credit’s scope to include 17-year-olds. Additionally, eligible taxpayers received monthly advance payments of half their estimated 2021 Child Tax Credit amounts from July to December 2021, providing consistent financial assistance to families caring for children.