CLEVELAND (WJW) — As the latest federal direct payment hits most of our bank accounts, some Democratic lawmakers are already eyeing another stimulus check.
A group of 10 Democratic senators released a letter earlier this month that asks President Joe Biden to include additional stimulus money in the next spending bill, according to The Washington Post. The letter mentions “recurring” payments as part of the plan.
“We urge you to include recurring direct payments and automatic unemployment insurance
extensions tied to economic conditions in your Build Back Better long-term economic plan,” the group writes.
In the letter, senators say the two forms of payments are effective together.
“Data shows that direct payments and enhanced unemployment insurance are among the
most effective forms of relief available. Not only do these payments help keep families out of
poverty, but they act as economic stimulus by increasing spending and supporting jobs,” the group writes.
The letter is signed by senators including Elizabeth Warren, Bernie Sanders, Cory Booker, and Kirsten Gillibrand.
The White House has not publicly commented on the group’s proposal.
Child Tax Credit increased for 2021
For this year only, the child tax credit has increased from $2,000 per child to $3,000 per child. Parents of children under age 6 would be eligible for an even larger $3,600 total credit. The plan also includes $3,000 benefits to the parents of 17-year-olds who meet plan qualifications. Previously children had to be 16 or younger.
The child tax credit has increased from $2,000 per child to $3,000 per child. Parents of children under age 6 would be eligible for an even larger $3,600 total credit.
The plan also includes $3,000 benefits to the parents of 17-year-olds who meet plan qualifications. Previously children had to be 16 or younger. The credit is also fully refundable.
For the standard $2,000 child tax credit, the phase out starts at $400,000 if filing jointly. According to the relief plan signed earlier this month, the additional credit will phase out for single filers at $75,000 and joint filers at $150,000.