As part of a new statement released this week, the Editorial Board of the Los Angeles Times called on Congress to restore President Biden’s expanded child tax credit as quickly as possible.
As everyone is aware, the maximum amount of $2,000 (rather than the previous $3,600) has been reinstated for this month. At least for the time being, there will be no government stimulus check in 2022. At least, not for the time being.
Despite the fact that the expanded federal child tax credit has the potential to be an effective tool in the fight against child poverty, the Los Angeles Times found it “very disturbing” that the United States Senate did not move to renew it before it expired this month.
However, no stimulus check has been carried out for the year 2022.
White House spokeswoman Jen Psaki claimed that the administration is seeking to pass legislation this month that will pay these payments in some fashion.
In addition, the Biden administration may increase the amount of money that families get in February. In order to make up for the fact that I did not get a paycheck this month.
When a payment is completed before the end of January, Psaki says a second payment in February is a possibility that has been discussed with Treasury officials and other stakeholders.
Psaki’s pledge that everyone will get a double payment in February is conditional on the word “if” in the preceding sentence being true. Legislation must be approved as soon as possible to avoid a stalemate. There is no question that fans are crossing their fingers for the best outcome possible.
If the increase in the child tax credit is not implemented, it would be a terrible blunder that would set back efforts to lift the next generation out of poverty for decades.
What are your plans for the month of February?
All indicators point to a disastrous result for Democrats in the next midterm elections, which are scheduled for November. Finally, the party might finance a stimulus check 2022 expansion as a last resort to go on with the plan.
At the very least, Biden’s aides do not seem to have given up hope of forging a compromise on stimulus payments just yet, according to reports. Despite the fact that Sen. Manchin has so far declined to support it, the bill is moving forward. That’s encouraging news.
It is also worthwhile to mention:
Earlier this year, the Biden administration announced that it will be included the first child tax credit boost in the American Rescue Plan, which was released last year.
First and foremost, the additional credit had two consequences. In the case of individuals who qualified, half of the total sum was given out over a period of 12 months. The balance of the funds will be received at tax time.
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However, it was at this point that it was transformed into an anti-poverty tool. Congress approved new legislation that allowed low- and no-income families to receive the maximum amount of compensation.
The path ahead for new stimulus checks in 2022 will be far more tough than it was in 2018. For starters, the midterm elections in 2022 are, of course, a significant element to take into consideration.
Republicans will have no incentive to award any victory to Joe Biden in this year’s election since they will have nothing to lose. Similarly, it’s probable that Democratic candidates who are in risk of losing their seats in the next election would see the same results.