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.
Chris Whipple, author of "The Gatekeepers", told Cheddar that the former White House chief of staff says that, for every botched immigration order, he had to stop ten others that were in the pipeline. But Priebus is still in communication with the President.
Billionaire investor Peter Thiel is leaving Silicon Valley and maybe even the board of Facebook. Amazon officially surpassed Microsoft in market valuation. Congressman Darren Soto (D-FL) joins us from Capitol Hill to share his thoughts on the deadly high school shooting in Parkland, Florida. Plus, we speak to the CEO of Celebrity Cruises and others for our Business of Travel show.
Kelly Macias, staff writer for Daily Kos, explains why she believes congress won't do anything about guns after the latest mass shooting in Florida. Macias also shares her thoughts on the resignation of a special assistant to President Trump after past marijuana use.
Billionaire investor Peter Thiel is leaving Silicon Valley and maybe even the board of Facebook. Amazon officially surpassed Microsoft in market valuation.
What did John Kelly know and when did he know it? Plus, the Olympic gold medal-winning snowboarder sparking controversy. A preview of the Daytona 500, and Happy Valentine's Day! With FanSided, The Root, Moët & Chandon, and Zimbio.
Save the Children CEO Carolyn Miles says that the number of children in these dangerous areas has spiked 75 percent since the early '90s. She adds that some feel as if they have no future.
Police in Florida respond to a deadly high school shooting in Parkland. Congressman Joe Kennedy talks about bringing the Democratic message to millennial voters, and President Trump's Infrastructure plan.
"Waiting for a politician to try and come around and court you? That's not the way any of this should go," he says, encouraging young constituents to go out and vote.
Time appears to be running out for John Kelly as White House Chief of Staff. He is under fire after reports came out saying that he hired former Staff Secretary Rob Porter, knowing he had a history of domestic abuse. The White House denied that it knew about Porter's background, until now. FBI Director Christopher Wray testified on Capitol Hill saying that the FBI had closed its file on Porter, and given a report to the White House when Porter was trying to get security clearance.
Rep. Thomas Massie (R-KY) went on the hunt for a battery from a broken-down Tesla Model S which he is now using to power his home. He says his family's first question was whether they'd still have air conditioning!
