Watch live as President Biden gives statement as families receive first child tax credit payments

President Joe Biden and Vice President Kamala Harris are speaking at the White House to mark the first day American families receive their monthly payment under the expanded child tax credit.

Over 39 million families will benefit from the enhanced credit, which is part of the $1.9 trillion American Resue Plan, passed by Congress in March with no Republican support.

The child tax credit gives those eligible an extra $3,600 per year for every child younger than 6, and $3,000 per year for every child between 6 and 17 years old.