The Biden stimulus benefit is the US's inaugural version of guaranteed income geared to children. Millions could get direct payments every month.
A monthly child allowance is going out in mid-July for most American families, providing a boost of stimulus cash until December.
The Biden stimulus benefit has deep Democratic support, but Senate moderates could slash the expanded child tax credit. Manchin hasn't weighed in.
Psaki alluded to a cash benefit families can start tapping in July. The GOP has argued that federal aid is keeping unemployed people on the sidelines.
The Treasury and the IRS said they would issue advance payments of the child tax credit in mid-July. It's set to reach most American kids.
In his "Golden State Stimulus," California Gov. Gavin Newsom plans to send middle-income people $600 checks and families with dependents $500 checks.
Jen Psaki instead touted a remodeled child tax credit from Joe Biden's stimulus, a measure allowing up to $300 monthly cash payments for parents.
Americans have so far received three stimulus checks, but many argue three isn't enough, and payments should continue to sustain economic growth.
Experts say the IRS could potentially settle on a quarterly payment system. Democrats want to avoid a bungled rollout along the lines of Obamacare.
IRS Commissioner Chuck Rettig says the agency is aiming to provide refunds so some people don't have to file amended returns for a stimulus tax break.
The IRS announced people can check the state of their direct payments using the "Get my Payment" portal.
The legislation authorizes direct payments for most taxpayers, renews unemployment benefits, and provides funding for vaccine distribution.
Joe Biden on Monday seemed willing to negotiate an aspect of the new coronavirus relief package. He said there was “legitimate reason” to question the income thresholds for direct payments. He also didn’t rule out using reconciliation but said “time is of the essence” in negotiations. Visit Business Insider’s homepage […]
Americans who qualify for the next set of economic relief payments could see direct deposits arrive as soon as next week, Treasury Secretary Steven Mnuchin said Monday. Congressional leaders on Sunday struck a deal on a $US900 billion stimulus bill that includes $US600 payments, bolstered unemployment benefits, and small-business aid. […]
President Donald Trump was talked out of calling for $US2,000 direct payments to Americans because it might’ve derailed fragile relief talks between Republicans and Democrats, The Washington Post reported. In the run-up to Election Day, Trump demanded a larger relief package than Democrats had. “Right now, I want to see […]
Sen. Josh Hawley introduced legislation to send another round of $US1,200 stimulus checks for Americans modelled after the ones distributed under the CARES Act. “Families are struggling. Unemployment claims are rising and food lines are growing. It’s time Congress finally acts,” Hawley said in a press release. The latest $US908 […]
Millions of Americans may be able to get a coronavirus vaccine before the end of the year, but a substantial portion of the public remains reluctant to get one. Several top economists and two former 2020 presidential candidates are pitching a novel idea: Pay people $US1,000 or more to get […]