The Economic Corner || Get Child Tax Credit payments from July 15: What is Child Tax Credit?

The programme touches upon the latest economic and financial developments across the globe, some of which can have far-reaching effects worldwide. Watch The Economic Corner on Kalkine TV and stay updated.

• The first monthly payments of the child tax credit will hit Americans’ bank accounts today that is July 15.

• Child Tax Credit is – It is a federal benefit that reduces income tax liability for people with children. 

• It is a credit that reduces taxes owed as opposed to a deduction that reduces taxable income. 

• Social networking giant Facebook said that it would pay more than $1 billion to content creators on its social networks through 2022. 

• Federal Reserve Chairman Jerome Powell said the central bank would not hesitate to raise interest rates to keep inflation under control.

• Moving on to China’s GDP numbers --- The country’s gross domestic product increased 7.9 per cent in the second quarter from a year ago. 

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