THE child tax credit September deadline nears after Senate Democrats proposed extending the payment program to 2025.

President Joe Biden extended the child tax credit from $2,000 to $3,600 earlier this year, however, it was only a temporary measure.

The president is said to be open to the idea of extending the program until 2025 and Senate Democrats are reportedly considering a three-year extension of the boosted credits.

An aide said to be familiar with ongoing discussions told Business Insider that the extension could be included in the $3.5trillion budget plan.

Meanwhile, on September 15, the long-awaited next round of child tax credit payments begin to hit bank accounts, as parents pad their budgets for the new school year.

The deadline to opt out of the October payments is October 4 and millions of families will receive $300 stimulus money next week.

The next payment dates after September are October 15, November 15, and December 15.

Ahead…

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