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Wealth Building Strategies for New College Graduates

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(AP) — The Biden administration is beginning to distribute expanded child tax credit payments, giving parents on average $423 this month, with payments continuing through the end of the year.

President Joe Biden increased the size of the tax credit as part of his $1.9 trillion coronavirus relief package, as well as making it fully available to families without any tax obligations. The benefit is set to expire after a year, but Biden is pushing for it to be extended through 2025 and ultimately made permanent.