Stimulus Check Update: Steps to end 37 million children’s payments

0
132

The Extended Federal Child Tax Credit will send families $ 15 billion a month between July and December 2021.

Family benefits are $ 300 for children under 6 and $ 250 for children 6 to 17. The US Rescue Plan was signed by President Joe Biden in March.

Married couples are eligible for money if their annual income is less than $ 150,000. Also fully recovered. You don’t have to work to make money.

But new analysis shows the senator’s plan will cut payments to more than 37 million children. ​The White House has made it clear that the government wants to make the Extended Child Tax Credit permanent. It is now included in incentive bills that are slowly being passed by Congress.

West Virginia Senator Joe Manchin reportedly intends to cap the income of children to $ 60,000. Families who exceed this limit are not eligible for the tax deduction. He also reportedly plans to include the job requirement in his tax credit. In Maryland, the Extended Child Tax Credit is available to children with an income limit of 840,000 or more.

A new analysis by the Niskanen Center suggests that this change will result in the loss of benefits for 37.4 million children. The estimate does not take into account possible job requirements.