Is a fourth stimulus check included in the new financial plan that Biden presented today?

Is a fourth stimulus check included in the new financial plan that Biden presented today?

Today Biden presented a new financial aid plan, the American Families Plan, to Congress. Was a fourth stimulus check included among the proposed measures?

As the IRS still continues to distribute the third stimulus check, the requirement is growing for the government to provide Americans with at least a fourth stimulus check. Was this included in the American Families Plan presented today?

President Joe Biden today addressed lawmakers in a joint session of Congress and unveiled details of the 'American Family Plan', a $ 1.8 billion proposal that many Americans who are still struggling due to the economic and health crisis, hoped would include a fourth stimulus check.

The bill addresses some of “the biggest challenges facing American families today,

Biden told Congressional leaders.

Though the American Families Plan does not include a fourth stimulus check among the measures outlined today, here are five ways Biden’s plan could help American parents, according to CNBC:

1. The expanded Child Tax Credit would continue

The American Rescue Plan, which Biden signed into law in March, included a Child Tax Credit that gives qualifying parents up to $3,600 per eligible child under six and up to $3,000 per child six years old or older. Parents can choose to receive payments in installments this year or get the full amount when they file their 2021 taxes in 2022.

While the Rescue Plan only supports the increased credit for one year, the American Families Plan would extend it through 2025. It would also make the credit fully refundable permanently.

2. The child-care tax credit would become permanent

The American Rescue Plan made changes to the Child and Dependent Care Tax Credit, which helps parents offset the cost of child care. Previously, the credit provided up to $3,000 for one child or $6,000 for two or more children. In 2021, it will provide $4,000 and $8,000, respectively.

The American Families Plan would make the changes to this credit permanent. Families making less than $125,000 per year would be entitled to the full credit, while families making between $125,000 and $400,000 would receive a partial credit.

3. Child-care costs would be partly or fully subsidized

Under the plan, families would pay child-care costs on a sliding scale. Costs for the “most hard-pressed working families” would be fully covered, and families earning 1.5 times the median income in their state would pay no more than 7% of their income for child care.

4. Free preschool for three- and four-year-olds

The American Families Plan would allocate $200 billion for free universal pre-school for all three- and four-year-olds.

5. Twelve weeks of paid family leave

The American Families Plan would include a provision providing 12 weeks of paid family or medical leave for all workers within 10 years, and workers would be eligible to receive up to $4,000 per month, replacing a minimum of two-thirds of their average weekly wages and up to 80% for the lowest-wage workers.

5. Twelve weeks of paid family leave

The American Families Plan would include a provision providing 12 weeks of paid family or medical leave for all workers within 10 years, and workers would be eligible to receive up to $4,000 per month, replacing a minimum of two-thirds of their average weekly wages and up to 80% for the lowest-wage workers.

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