Fourth Stimulus Check Rolling Out

Fourth Stimulus Check Rolling Out

( – In March 2021, Congress passed the American Rescue Plan Act of 2021, which provided advanced Child Tax Credit monthly payment distributions to eligible families. That program will end in December, but there’s one payment left mid-month that may be as much as $1,500 or $1,800 instead of the standard $250 or $300.

Since July, many American families with children ages 0 to 18 received monthly stimulus payments, but some who qualified didn’t receive their money and could get the boost in one lump sum on December 15.

The second half of the Child Tax Credit will be a line item on an eligible family’s taxes for 2021, but some lawmakers are trying to extend the payments through 2022 through the Build Back Better Act. The president wants to stretch the stimulus for families with children through 2025.

Senator Joe Manchin (D-VA) joined Senate Republicans criticizing the act, saying the legislation is way too expensive. In fact, experts said the package would add $3 trillion to the nation’s debt. The IRS informed Senate Finance Committee chair Senator Ron Wyden (D-OR) the act would have to pass by December 28 or families may not get their January payment. The legislation passed the House on November 19 and it currently sits with the Senate.

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