There won’t be any additional stimulus checks, which is practically certain. However, there was a glimmer of hope that at least one stimulus payment, which President Biden firmly supports, may be approved.
Now, according to Biden, he is unsure if he can include it in the “Build Back Better” package.
The increased Child Tax Credit is the stimulus payment that is under discussion.
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This page is updated regularly, VERY FREQUENTLY, every day, or perhaps more than once. As fresh information becomes available, we’ll update this…The American Rescue Plan Act of 2021 gave parents further relief by enhancing the Child Tax Credit.
This program offers up to $3,600 to parents of children under the age of six, and up to $3,000 to parents of children between the ages of six and seventeen.
The American Rescue Plan Act also permitted monthly payments of up to half of the entire credit amount from July through December 2021. When submitting their 2021 taxes, parents can claim the remaining portion of the credit.
Biden hoped to extend the child tax credit for at least another year by incorporating it into the Build Back Better program, but he’s not sure if he can do so anymore. Biden is unsure whether to support community colleges in addition to the child tax credit.
Biden told reporters on Wednesday that he wasn’t sure he could include two very important elements in the package. One is the tax credit for childcare, and the other is an aid for community college costs.
This would seem to indicate that, despite Biden’s support for these two clauses, he might not be able to include them in the current Build Back Better plan.
In addition to a five-year extension of the increased child tax credit, the original Build Back Better package included a clause that would have made community college tuition-free for two years. Both of these clauses have long been supported by Biden.
To be eligible for budget reconciliation, which enables Democrats to enact legislation without the support of Republicans, Democrats had to take some of the original $3.5 trillion proposal’s provisions out.
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A one-year extension of the child tax credit and increased financial help for college were still included in the plan, which had been reduced from $2 trillion to $1.75 trillion.
Even though the House approved of this idea in November, West Virginia senator Joe Manchin, a moderate Democrat, opposed it in the Senate.
This is most likely what led Biden to declare that he wasn’t sure he would receive things “in the package.”
Biden remains optimistic that these provisions will ultimately be approved.
He added, “I think we can split the package up, get what we can now, and then go back and fight for the rest of it.
