President Joe Biden last week rejected the idea of ending child tax credit payments, showing support for keeping the stimulus checks available for families across the country.
Will there be more child tax payments?
Per Politico, Biden wants to extend the child tax credit payments for three more years. But the Democratic Party, which is Biden’s own party, has opposed the idea because it might raise the price tag of a spending bill being debated in Congress.
- Biden agreed to extend the child tax credit payments for one more year, according to Politico.
Who gets child tax credit payments?
The child tax credits are a part of the plan added to the American Rescue Plan — the $1.9 trillion coronavirus relief bill, which passed in Congress last March, per the Deseret News.
- Right now, families receive $3,000 for children ages 6 through 17, and $3,600 for children under 6.
- Half of the money is distributed in six monthly checks from July to December. The other half is distributed when people file their 2021 taxes.
Will you qualify for child tax credit payments in the future?
The latest debate for the child tax credit comes days after Sen. Joe Manchin, D-W.Va., called for two major changes to the bill. Manchin — who has power in the Senate due to his moderate political beliefs, often acting as a swing vote — said in mid-October that he wanted to make two major changes to the child tax credit requirements:
- There must be an “established work” requirement so that people who receive the payments prove they are working.
- There must be a family income limit near $60,000.
But Biden rejected the idea from Manchin, hoping to keep the payments available for most families.
- “President Biden’s Child Tax Credit is a tax cut for the middle class. Middle class families will get a monthly payment of $250 for a child over the age of 6 and $300 for children under the age of 6,” the White House said in a tweet. “That’s a big deal.”