The IRS recently sent $15 billion in Child Tax Credit payments to the families of 60 million children. Parents woke up to find the first monthly distributions (averaging $483 per family) had been directly deposited into their bank accounts. These dollars are part of the $110 billion in expanded child tax credits legislated by this spring’s $1.9 trillion American Rescue Plan Act. While these funds are not targeted at education, the program has opened a temporary window that could help vastly expand school choice.
