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.
Aria Finger, CEO of DoSomething.org, is a Taylor Swift fan, and it has nothing to do with her music. Finger said the pop star's GOTV push is just what is needed to increase voter turnout among young people in November.
These are the headlines you Need 2 Know.
With less than 10 days left until recreational marijuana is legal across Canada, Alyson Martin, co-founder of Cannabis Wire, explains how rollout will go. As for the future of legalization in the U.S., she says it's inevitable. "Young people might be the path to legalization," she said.
Utah is one of four states with a medical marijuana initiative on the ballot next month. But Republican State Senate President Wayne Niederhauser said so-called Prop 2 probably goes to far and a separate, bipartisan bill to legalize medical use with some restrictions, is a more measured approach.
UN Ambassador Nikki Haley has submitted her resignation to President Trump and will leave her post at the end of 2018.
The former South Carolina Governor has long been considered a presidential contender, but in a joint meeting with the president said she would not run in 2020.
Haley was a fierce protector of Trump's foreign policy doctrine at the UN since she was confirmed to the post soon after Trump took office.
The president said he'd name a replacement in two to three weeks.
The actor and comedian spoke to Cheddar about his new projects, which focus on race, mental health, and political issues in a wide-ranging interview.
These are the headlines you Need 2 Know.
Greg Miller, author of "The Apprentice," told Cheddar that the main objective of his new book was to build a comprehensive look at President Trump's relationship with Vladimir Putin as well as the findings of the special counsel probe.
With the midterm elections now less than a month away, Cheddar's J.D. Durkin went to Las Vegas to gauge what is fast becoming one of the most consequential races in the country. Democratic Rep. Jacky Rosen is challenging GOP Sen. Dean Heller for his seat and, according to new polling, has taken a slim lead. For a deeply purple state that went for Hillary Clinton in 2016 but still maintains significant support for Pres. Trump, the race is becoming a bellwether for the national state of play.
A landmark report issued by the Intergovernmental Panel on Climate Change Monday warned that there could be irreversible damage caused by climate change in as little as 12 years. Andrew Freedman, science reporter at Axios, said the effects of this could be even hotter heat waves, sea-levels rising that could wipe out coastal cities, food shortages, and more.
