Here’s what you need to know.
Families with children younger than 6 can expect to receive credits of $3,600 per child instead of $3,000.
So let’s say you’re parents who qualify for stimulus checks and have two children ages 3 and 5. Over the year, your child tax credit total would be $7,200 — bringing your haul from Uncle Sam this year to a whopping $15,200.
There’s even more money if you’re among the millions who’ve been thrown out of work during the pandemic.
The federal government has been paying bonus unemployment benefits, on top of the usual state benefits. The current $300-a-week payments are due to run out soon; the relief bill would raise those federal benefits to $400 a week and extend them through August.