Stimulus Check Update: Could the Improved Child Tax Credit Make a Comeback?

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A popular style of stimulus check might get a reboot: During the two-year, economically crippled coronavirus pandemic, Congress stepped in to approve three much-needed and timely stimulus checks for most eligible Americans.

But since the US bailout last spring gave the green light to the third most recent direct stimulus payments, there has been little talk but no action from the White House and Congress.

Amid this inaction in Washington, Americans are still trying to navigate their way through the ongoing health crisis and the high and relentless inflationary pressures, which continue to wreak havoc on the pocketbooks of ordinary and working citizens.

Unofficial 4and Verification of the stimulus

However, there is potentially good news ahead for many Americans with children. As reported by NJ.com, the new plan, proposed by Sen. Mitt Romney (R-Utah), would essentially bring back the enhanced child tax credit — seen by many Americans as an unofficial version of a fourth check. recurring stimulus – which came to a halt at the end of December.

“When people started getting stimulus checks at the start of the coronavirus pandemic, many parents also received up to $300 per child under the enhanced 2021 child tax credit,” writes the site.

“However, Congress has made no progress in putting in place additional stimulus checks, and President Joe Biden’s plan to extend the Child Tax Credit through 2022 has failed in the Senate,” continues- he.

Under Romney’s proposal, known as the Family Security Act, eligible families with children under 5 would receive $350 per child and families with children over 17 would receive $250 per child.

NJ.com noted that “the measure would also allow expectant parents to begin receiving payments four months before their baby’s due date.” In addition, there will be income thresholds and “monthly payments for families will reach a maximum of $1,250”.

Stimulus Check Job Requirement

In a likely effort to gain more bipartisan support, there will also be a work requirement attached to payments, which was also pushed by Sen. Joe Manchin (D-WV), who essentially scuttled Build Back Better legislation that aimed to extend the subsidized credits for an additional year.

“American families are facing greater financial pressure, compounded by the COVID-19 pandemic, and marriage and birth rates are at historic lows,” Romney said in a statement.

“On top of that, we haven’t completely reformed our family support system for almost three decades, and our changing economy has left millions of families behind. Now is the time to renew our commitment to families to help them meet the challenges they face as they undertake the most important task we have to do: raising the children of our society. This proposal paves the way to greater security for American families by consolidating the many complicated programs to create a monthly cash benefit for them, without adding to the deficit,” he continued.

Ethen Kim Lieser is a Washington State-based science and technology editor who has held positions at Google, The Korea Herald, Lincoln Journal Star, AsianWeek, and Arirang TV. Follow him or contact him on LinkedIn.


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