Child cash benefit will begin hitting millions of parents’ bank accounts July 15 – The Washington Post

Biden administration officials estimate that households representing more than 65 million children — or 88 percent of all U.S. kids nationwide — will begin receiving the benefit through direct deposit, paper checks, or debit cards. Of that population, roughly 80 percent of that population will be sent the cash directly via direct deposit, administration officials told reporters on a call Sunday. High-income parents will receive a smaller benefit or none at all, depending on how much they make. The credit diminishes for individuals with adjusted gross income of more than $75,000, as well as couples earning more than $150,000.