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.
President Donald Trump and Russian President Vladimir Putin started their heavily scrutinized one-on-one meeting in Helsinki, Finland, on Monday. "[Putin] has been in power for a very long time, almost 20 years now, he is a former KGB officer, and he's not interested in playing nice," says Natalia Antonova, former editor of The Moscow News. The meeting comes just days after the U.S. Justice Department indicted 12 Russian military officers for trying to influence the 2016 presidential election. Before the meeting, Trump described the federal investigation as a "Rigged Witch Hunt!"
While the Trump baby blimp flew over London, tempers flared on the streets. Many of the same passions that help fuel Donald Trump's popularity in the U.S. are very much alive and well in the UK.
Special Counsel Robert Mueller's move Friday was the first time the probe has targeted the Russian government. The Russian-orchestrated conspiracy didn't, however, influence vote counts, says Deputy Attorney General Rod Rosenstein.
The president denied that he criticized British Prime Minister Theresa May's handling of Brexit in an interview with The Sun newspaper, calling it "fake news." His comments come just a day after The Sun posted its recorded interview online. Trump and May held a joint press conference on Friday where they both confirmed that the UK and the U.S. would strike up a special trade deal after Brexit.
These are the headlines you Need2Know:
*President Trump is in England preparing for a joint news conference with Theresa May. While the duo dined last night, The Sun newspaper published a sit-down interview with the president where he criticized May’s handling of Brexit. Trump warned trade deals with England could be nixed if Brexit isn’t handled properly.
*FBI agent Peter Strzok was removed from working on the Hillary Clinton email probe and the Trump-Russia investigation after text messages were discovered in which he criticized the president.
*Stormy Daniels made an encore appearance at the same strip club she was arrested at the night prior.
*A Kansas City water park will not reopen after a 10-year-old boy died on a water slide.
*Serena Williams beat Julia Görges of Germany yesterday to reach her 10th Wimbledon final.
Cheddar Big News's Jill Wagner gives us the details.
President Trump, on his last day at the NATO summit in Brussels, declared that other members of the alliance had agreed to increase defense spending. Minutes later, however, French president Emmanuel Macron disputed those claims, saying that all members had committed to the previous spending target. Trump is now in London for his first visit to the British capital since winning the White House.
These are the headlines you Need2Know:
* Confusion at the NATO summit after President Trump said allies will add billions of dollars to defense spending. But French president Emmanuel Macron rebuffed those claims.
* Stormy Daniels was arrested after an alleged misdemeanor at a Columbus, Ohio, strip club. Her lawyer, Michael Avenatti, has also been working to reunite families at the southern border.
* The U.S. Senate voted yesterday on a non-binding resolution giving it a say on what tariffs are levied and against whom.
* New evidence prompted the Department of Justice reopened the case of Emmett Till, a 14-year-old boy who was killed in 1955 in Money, Miss.
* John Schnatter, founder and former CEO of Papa John’s, has resigned his chairman role after a racially-charged comment on a conference call.
* Americans made it to both the men’s and women’s Wimbledon semifinals, the first time since 2009.
Cheddar Big News' Jill Wagner tells us the latest.
President Donald Trump's aggressive stance at the two-day NATO summit in Brussels, on top of his antagonizing trade policies, have "brought the transatlantic alliance to the lowest point,” says Joshua Meltzer, senior fellow of global economy and development at the Brookings Institute.
Stocks dipped today after the White House threatened to impose a new set of tariffs on China on $200 billion worth of goods. However, Kate Warne, investment strategist at Edward Jones, says this could be an opportunity for investors. "Put money to work today."
These are the headlines you Need2Know:
The NATO Summit got off to a heated start as President Trump already criticized member countries for not paying their fair share of defense spending.
The Trump administration also missed its promised deadline to reunite dozens of migrant families.
A natural gas leak in Sun Prairie, Wisc., turned deadly when an explosion erupted for several hours.
Brett Kavanaugh, the president's pick for the open Supreme Court seat, met on Capitol Hill with the vice president and senators yesterday.
The NFL Players Association is challenging the anti-kneeling policy, which requires players to remain in the locker room if they choose to protest the national anthem.
Hurricane Chris makes its way up the East Coast, but shouldn't make a major impact on land.
Cheddar Big News' Jill Wagner gives us the details.
