Could you receive monthly stimulus checks of $ 300 starting in July?

Congress Democrats aim to pass their $ 1.9 trillion coronavirus relief plan next week and then send it to President Joe Biden’s desk for his signature before March 13. Could you receive the $ 300 monthly stimulus checks it includes?

Early Saturday, the House, led by Speaker Nancy Pelosi, passed President Joe Biden’s American Rescue Plan and the Senate will start considering the House-passed version of the bill as soon as Wednesday.

Democrats seek to pass the American Rescue Plan that would extend key unemployment programs before they expire on March 14. The $ 1.9 trillion relief bill includes several provisions that include, among other financial aid, $ 300 monthly stimulus checks for families.

Child poverty has worsened in the United States due to the current crisis caused by the pandemic and that is why Biden's plan proposes to give families financial support for each child they have. This aid would be in addition to the third stimulus check of $ 1,400.

President Joe Biden originally proposed enhancing the child credit to at least $ 3,000 for each child under the age of 17 - $ 3,600 for kids under 6 - for a year, but Congress made a change so the IRS would send families monthly payments from July to December, to account for half the expanded credit.

Families would receive $ 250 per child ($ 300 for kids under 6) each month for six months and the rest of the credit would then be refundable next year, on parents' 2021 tax returns.

Each month for six months, parents would receive $ 250 for each child ages 6 to 17 they have, and $ 300 for children 5 and younger.

The objective of this support is that parents can cover basic needs, such as food and rent.

In order to help the neediest families, the money will be given to single parents who have reported income of $ 75,000 or less on their last tax return, to heads of household who have reported $ 112,500 or less, and couples who file a joint tax return and reported income of $ 150,000 or less.

Take into account that the proposal has not yet been approved, so it could undergo further changes in the following days.

Related Articles

More News

More News