Stimulus check would be child tax credit for years


  • Economic stimulus check could last until 2024
  • This refers to the delivery of the child tax credit
  • However, not all citizens could benefit

Good news is given this Thursday, September 9 for the citizens of the United States, since they report that the economic stimulus check that is delivered as a tax credit for children, could be extended for a few years, according to a publication made by the portal of news from The Sun.

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The information that is available so far is that the group of Democrats in the Senate is currently analyzing a three-year extension of this type of credit, which would give families up to $ 3,600 per child in this 2021 alone.

WHAT WILL HAPPEN?

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Although the source was reserved, it told the Business Insider media outlet that the legislators’ objective would be that this extension of support for the covid contingency could be included in President Joe Biden‘s plan of $ 3.5 billion.

However, the possibility is being considered that this support will decrease and remain at only $ 2,000, precisely in three years, when presidential elections are contemplated in 2024 and not everyone could benefit from this support.

Economic Stimulus Check: PERMANENT AID

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A positive point is that regardless of whether they owe little or a lot of taxes, families will be able to receive this type of benefit permanently, which means that it is fully refundable, according to the portal.

But another option has been established, and that is that families could, if they so decide, discard the full refund, so it is very important that you be attentive to any report on aid checks for coronavirus.

Economic stimulus check: ‘INJECT’ RESOURCES

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As you will recall, in past years, the child tax credit was worth a total of $ 2,000 per child and the refundable portion was limited to $ 1,400, according to data obtained by sources familiar with the matter in the government.

The Senate Finance Committee has obtained an allocation of $ 385 billion to be able to extend the tax credit for children, along with other programs that have joined as part of the help that the government gives to families to face the crisis by the covid.

Economic Stimulus Check: THE CONSEQUENCES

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According to estimates made by finance experts, an extension of this aid for 3 more years could mean an increase to $ 330 billion, which would force the government’s budget plans to be lowered to meet that commitment.

The activation of the delivery of checks by covid began in March of last year with then-President Donald Trump and has continued with Joe Biden. With Trump two checks were delivered and with Biden the first goes, but we will see a fourth check.

Economic stimulus check: HOW DOES THE RESOURCE ARRIVE?

Child tax credit
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It should be noted that the credits for children amount to $ 3,6000 per child under six years of age in 2021, $ 3,000 for children from six to 17 and $ 500 for university students, but for adolescents up to 17 years of age they are sent in a automatic as monthly installments between July and December.

The other part is delivered after the IRS has processed your 2021 tax refund in 2022. The third monthly installment reaches bank accounts in less than a week, so be very vigilant throughout the process.

WHO QUALIFIES?

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One of the most recurrent questions of US citizens on the issue of support against the covid, is who qualifies for it? So here we will tell you how you can obtain the resource and the requirements that you must meet.

To get started, couples must earn less than $ 150,000. In turn, single parents who claim to be heads of household must earn less than $ 112,500 and only then will they be able to claim the amount that the government offers them. Filed Under: Economic Stimulus Check

THE BENEFITED

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As is known, the payments of this benefit began to be delivered since last July 15 and according to government estimates, there are around 39 million households throughout the United States that are eligible to receive the aid.

On the delivery of a fourth check, it is still uncertain, however, some states began to give additional help because the cases of coronavirus have increased in the country, especially with the return to classes and the Delta variant. Filed Under: Economic Stimulus Check

MORE HELP

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A couple of days ago, it was reported that workers in meat processing plants and in the field, who were badly affected by the coronavirus pandemic, will be able to access grants of up to $ 600 per person according to a new assistance program of 700 million dollars that the United States Department of Agriculture announced.

Authorities said the grants are intended to compensate workers for part of the expenses they made when they bought their own protective equipment or when they took leave without pay when the virus hit their industries and they were asked to continue reporting for work. Filed Under: Economic Stimulus Check

THEY HAVE TO GO DAILY

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“While the rest of America was able to work from home, these brave men and women continued to go to work every day to ensure that we all had food to eat on our tables,” said Marc Perrone, president of the United Food and Commercial Workers (UFCW). ). “Meatpacking plants experienced some of the highest-life COVID-19 outbreaks at the start of the pandemic, and there were workers who deserve our help, as well as our thanks and support.”

Early last year, the virus wreaked havoc in meatpacking plants, where workers work closely together on production lines. The UFCW union, which represents approximately 80% of the workers in the beef and pork industry and 33% of the workers in the poultry sector in the country, considers that at least 132 employees of packing plants of meat died of COVID-19 and at least 22,000 were infected. Filed Under: Economic Stimulus Check

MEAT PRODUCTION FALLS IN TIME OF COVID

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During that peak of the pandemic, the meat sector’s production fell to around 60% of its normal levels because several large plants were forced to close temporarily to do a deep cleaning or improve their security measures, or because they had to work hard. slower pace due to labor shortage.

The worker grants will be awarded by a number of nonprofit groups that apply to work with the government. Agriculture Secretary Tom Vilsack said he hoped to minimize administrative costs and the requirements to apply for the money so that more workers could be helped. Filed Under: Economic Stimulus Check. With information from AP





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