By Josh Boak
The Treasury Department said Monday that 39 million families are set to receive monthly child payments beginning on July 15.
The payments are part of President Joe Biden's $1.9 trillion coronavirus relief package, which expanded the child tax credit for one year and made it possible to pre-pay the benefits on a monthly basis. Nearly 88% of children are set to receive the benefits without their parents needing to take any additional action.
“This tax cut sends a clear and powerful message to American workers, working families with children: Help is here,” Biden said in remarks at the White House.
Qualified families will receive a payment of up to $300 per month for each child under 6 and up to $250 per month for children between the ages of 6 and 17. The child tax credit was previously capped at $2,000 and only paid out to families with income tax obligations after they filed with the IRS.
But for this year, couples earning $150,000 or less can receive the full payments on the 15th of each month, in most cases by direct deposit. The benefits total $3,600 annually for children under 6 and $3,000 for those who are older. The IRS will determine eligibility based on the 2019 and 2020 tax years, but people will also be able to update their status through an online portal. The administration is also setting up another online portal for non-filers who might be eligible for the child tax credit.
The president has proposed an extension of the increased child tax credit through 2025 as part of his $1.8 trillion families plan. Outside analysts estimate that the payments could essentially halve child poverty. The expanded credits could cost roughly $100 billion a year.
Updated on May 17, 2021, at 2:06 p.m. ET with the latest details.
In the aftermath of earthquakes, one of the U.S. territory’s top architects is making the case for short-term assistance combined with long-term vision.
When President Bill Clinton was impeached more than 20 years ago, the Senate leaders who controlled his fate say they sought to appear neutral and separate from the White House and wanted to make the trial a bipartisan process. At least that’s how Trent Lott and Tom Daschle remember it today.
House Speaker Nancy Pelosi called Facebook’s behavior “shameful” during her weekly press conference Thursday.
The federal government's watchdog agency said Thursday a White House office violated federal law in withholding security assistance to Ukraine.
These are the headlines you Need 2 Know for Thursday, January 16, 2020.
The House delivered the articles of impeachment against President Donald Trump to the Senate Wednesday hours after Speaker Nancy Pelosi named seven managers to handle prosecute the trial.
“[Trump] would win right now because the Democrats have not succeeded in making this election a referendum on Trump,” longtime Republican and political strategist Rick Wilson told Cheddar on the eve of another sort of referendum — the president’s impeachment trial.
President Trump signed a so-called "phase one" trade deal with China on Wednesday, signaling a détente in a protracted trade war that resulted in hundreds of billions of dollars of tariffs being exchanged on exports between the world's two largest economies over the better part of two years.
Weeks after the White House unexpectedly derailed a bipartisan tax deal for electric vehicles, offshore wind energy, and other major green priorities, dozens of emissaries from the nation’s renewable energy industries and environmental advocacy groups are gathering in the nation’s capital to begin charting their green-energy push for 2020 — and to dissect what went wrong in the final hours of its 2019 influence campaign.
Here are the headlines you Need 2 Know for Wednesday, January 15, 2020.
