Americans are waiting on the status of another round of COVID-19 relief.
But while many taxpayers are wondering whether they will be eligible for a third stimulus check of $1,400, other measures are being proposed as additional ways to ease the financial burden felt by families all over the country.
The latest attempt to target aid to people who need it most is a proposed addition to the $1.9 trillion stimulus package that would give families thousands of dollars in pandemic relief for their children.
Related
The Washington Post first reported on the enhanced Child Tax Credit Bill over the weekend. The bill is expected to be introduced by Democrats in Congress on Monday.
What’s in the proposed enhanced Child Tax Credit Bill?
The measure would provide families with $3,600 for each child under the age of six, and $3,000 for children between the ages of six and 17, according to obtained copies of the 22-page bill.
Who would be eligible?
The full aid proposed by the bill would be available to households where single parents earn up to $75,000 per year, and where couples make up to $150,000 per year.
After those income thresholds, payments would be phased out.
How would these payments be granted to families and when would they begin?
Under the proposed bill, families would receive the per-child relief payments in monthly installments of $250. The payments would begin in July 2021 and last for one year.
How likely is this bill to pass?
It is possible the bill could receive bipartisan support among lawmakers.
Rep. Richard Neal, D-Mass, who is Chairman of the Ways and Means Committee, emphasized the urgency of getting the support out to families struggling amid the pandemic.
"The pandemic is driving families deeper and deeper into poverty, and it's devastating. We are making the Child Tax Credit more generous, more accessible, and by paying it out monthly, this money is going to be the difference in a roof over someone's head or food on their table," he told CNN in a statement.
Across the aisle, Republican support for a family tax is also possible.
Senator Mitt Romney, R-Utah, recently proposed a bill that would give families $4,200 annually for young children and $3,000 annually for school-aged children. While these benefits were included in Romney’s proposal, however, his bill included the cancellation of multiple government assistance programs and some tax provisions.
LISTEN NOW on the RADIO.COM App
Follow RADIO.COM
Facebook | Twitter | Instagram