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.
Regulators in Colorado have to keep up with and adapt to a fast-growing, ever-changing industry which consistently introduces new products into the market. "It is a challenge, but the engagement we have with stakeholders has been really valuable in helping us navigate those issues," says Dominique Mendiola, recently-appointed director of marijuana coordination in the state.
President Donald Trump's ambivalence at a joint press conference with President Vladimir Putin gave the Russian leader a "get-out-of-jail-free-card" for future elections, says Joaquin Castro, Democratic Representative from Texas.
The backlash from President Trump's meeting with Russia's Vladimir Putin continued well into Tuesday, with politicians from both sides of the aisle condemning Trump. During his meeting with Putin on Monday, Trump seemed to side with the Russian President over U.S. intelligence officials on the issue of Russian meddling in the 2016 election.
Shares of Netflix tumbled after the company reported lower-than-expected subscriber growth in its quarterly earnings report on Monday. The streaming giant also missed Wall Street estimates on revenue and earnings per share.
And Jonathan Trager, CEO of Group Elephant, joins Cheddar to talk about his organization's mission to stop the poaching of elephants and rhinos in South Africa.
These are the headlines you Need2Know:
Trump Faces Bipartisan Backlash
Russian Woman Charged With Election Meddling
Hawaii's 'Lava Bomb' Injures Tourists
Deadly Fire Near Yosemite National Park Doubles
The New York attorney general candidate, who previously worked on Cynthia Nixon's campaign, plans to tackle corruption in the state. "People are really sick and tired of not having serious, on-going corruption prosecutions in New York State done by the state attorney general."
The show, which features political figures like Bernie Sanders and Trent Lott, premiered last night on Showtime. While it taps into political and social issues like gun control, popular.info’s Editor in Chief Judd Legum doesn’t know if it will significantly affect the public’s attitudes. “I don’t think this is a complete game changer, but I do think that things like this can contribute into some of the changes and attitudes on guns."
Following the president’s refusal to take a question from CNN’s Jim Acosta last week, Morgan criticized the mainstream media and the president for constantly being at each other’s throats. “I wish everyone would just take a chill pill and work a little bit better together with mutually better respect.”
During a joint press conference with Russian President Putin in Helsinki, Finland, Monday, President Trump refused to say whether he believed his own intelligence agencies about whether Russia interfered with the 2016 elections. The press conference drew criticism from Republicans and Democrats back at home.
These are the headlines you Need2Know:
*President Trump meets with Russian President Putin in Helsinki, Finland, days after the indictment of 12 Russian operatives for trying to disrupt the 2016 election.
*A federal judge blasts the HHS giving them one more week to reunite 2,000 families at the border after the administration missed the initial deadline.
*Protests erupted in Chicago over the weekend after a popular barber was shot and killed by the police.
*Novak Djokovic and Angelique Kerber won Wimbledon titles over the weekend. And France took home the World Cup.
Cheddar's Hope King gives us the details.
Before his private meeting with Russian President VladimirPutin, President Trump tweeted that the U.S.-Russia relationship has taken a hit because of the federal investigation into election interference, which Trump says is a "Rigged Witch Hunt!" Trump also labeled the EU as "foes" of the United States over the weekend, further alienating allies that he has been criticizing for the past week. Cheddar's J.D. Durkin brings us the latest from Helsinki, Finland.
