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.
A Ukrainian passenger jet carrying 176 people crashed on Wednesday, just minutes after taking off from the Iranian capital's main airport, turning farmland on the outskirts of Tehran into fields of flaming debris and killing all on board.
Iran struck back at the United States for the killing of a top Iranian general early Wednesday, firing a series of ballistic missiles at two Iraqi bases housing U.S. troops in a major escalation that brought the two longtime foes closer to war.
Debra Wada, vice chair of the National Commission of Military, National and Public Service discussed what Selective Service entails in light of recent interest from the recent killing of Iranian Gen. Qassem Soleimani.
Senate Majority Leader Mitch McConnell said Tuesday he has secured the Republican votes needed to start President Donald Trump’s impeachment trial and postpone a decision on witnesses or documents that Democrats want.
The Florida congressman is defending the president's actions in authorizing a drone strike that killed Gen. Qassem Soleimani last week and told Cheddar the president acted in self-defense.
As tensions continue to rise in the Middle East, Mike Pompeo answered questions from reporters at the State Department.
A stampede broke out Tuesday at a funeral for a top Iranian general killed in a U.S. airstrike, and at least 40 people were killed and more than 200 were injured as thousands thronged the procession, two Iranian news agencies reported.
These are the headlines you Need 2 Know for Tuesday, January 7, 2020.
Brent oil prices, the international benchmark, hit the $70 mark for the first time in three months and the price of West Texas Intermediate, the American oil benchmark, reached more than $63 a barrel.
In a statement Monday, Bolton, who left the White House in September, says that he has weighed the issues of executive privilege and "concluded that, if the Senate issues a subpoena for my testimony, I am prepared to testify."
