88% of children covered by monthly payments starting in July

WASHINGTON (AP) — The Treasury Department said Monday that 39 million families are set to receive monthly child payments beginning on July 15.

The payments are part of President Joe Biden's $1.9 trillion coronavirus relief package, which expanded the child tax credit for one year and made it possible to pre-pay the benefits on a monthly basis. Nearly 88% of children are set to receive the benefits without their parents needing to take any additional action.

“This tax cut sends a clear and powerful message to American workers, working families with children: Help is here,” Biden said in remarks at the White House.