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.
There are 38 openly gay mayors across the country, according to the Victory Fund, an advocacy group working to elect LGBTQ politicians. Mayor Jane Castor of Tampa, was elected in April with an overwhelming 72 percent of votes, becoming the city's first openly gay mayor.
Illinois is now the 11th state in the U.S. to legalize recreational marijuana. Democratic Governor J.B. Pritzker signed the legalization bill into law on Tuesday, just a few weeks after the proposal was passed by the state legislature.
These are the headlines you Need 2 Know for Tuesday, June 25, 2019.
Green Growth Brands has added another retail veteran to its team. A former executive at Victoria’s Secret, Tommy Hilfiger, and Calvin Klein, Jann Parish joins the CBD-infused beauty and skincare company as chief marketing officer, as it seeks to tap into the cultural movement surrounding cannabis and hemp.
Congressman Tim Ryan (D-Ohio) is hoping to break through on the Democratic Primary debate stage Wednesday night by emphasizing his Ohio working class bona fides.
Companies from every sector of the economy are celebrating Pride this month with rainbow logos, LGBTQ-themed marketing campaigns, and new product launches. Yet branding experts note that simply acknowledging Pride in June can undermine a corporate brand as well as undercut the fundamental message of Pride, which is rooted in human rights and celebrating a community that has long been discriminated against.
June is the first Pride month for the 116th Congress, which includes 10 openly gay politicians — the most in the nation’s history. From hometown parades to policy speeches, members of Congress are marking the celebratory month and using the occasion to push for equality legislation.
Sen. Kirsten Gillibrand (D-N.Y.) is polling somewhere in the neighborhood of zero to one percent in most national polls, but she doesn't believe she can be counted out of the race with the first Democratic primary debates still looming.
REPORTER'S NOTEBOOK: Democratic presidential hopefuls descended on South Carolina Friday to meet voters and chow down at House Majority Whip Jim Clyburn's "World Famous Fish Fry."
These are the headlines you Need 2 Know for Monday, June 24, 2019.
