Parents and guardians who care for one or more children should know how valuable the child tax credit is. This tax credit is available for qualified filers who have a child under the age of 17. Since it was enacted in 1997 and since then has helped millions of people with the costs of rearing a child. Up to $2,000 is now available per child. The new administration is hoping to expand the child tax credit, on a temporary basis as part of a COVID-19 relief plan. While the measures still need to pass on the Congressional floor, there are some exciting aspects of the proposal that are worth knowing.