Child tax credit checks may be distributed on Guam lump sum by next month

(Fox Business graphic)

Governor Lou Leon Guerrero announced during her news conference Monday afternoon that child tax credit checks may be distributed on Guam by next month.

In the mainland, the distribution of the expanded child tax credit checks already started last week.

The vast majority of American families with children will automatically receive up to $300 per month per child beginning July 15.

The expanded tax credit increased the child tax credit from $2,000 to $3,000 for children over 6, and to $3,600 for children under 6.

Along with the increased child tax credit amount, ABC News reported that another change is that the credit is now refundable and can be advanced, meaning families get checks throughout the year, rather than waiting until after filing taxes.

Here on Guam, the governor said the Department of Revenue and Taxation has already consulted with its federal counterparts and preparing for the program’s implementation on Guam.

“I’m discussing with Dafne. I think we’re leaning more towards just giving the lump sum, versus the monthly. That’s something that she’s really looking into based on the resources that we have. To do a monthly, I think, involves thousands of checks and to do that monthly will really greatly tax our resources. So we’re discussing either giving it lump sum or maybe twice a year,” Leon Guerrero said.

She added: “Certainly, the child tax credit is a benefit to the population. That’s another form of financial assistance to our vulnerable individuals and our vulnerable people, and those people with lower income for their families.”