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More free money: Biden to start monthly child tax credit payments July 15

Why are we going ahead with this? The economy does not need any more stimulus. If anything, with inflation threatening, it needs less.

And another $300 per month is just added incentive for people not to go get a job, during a time when employers are unable to hire the people they need.

Democrats can’t stop giving away free stuff. And President Biden must assume grateful voters will line up to support him, or whoever the Democratic nominee is, on Election Day 2024.

According to The Hill:

Households that account for about 65 million children, or 88 percent of children in the United States, will will receive the payments without needing to take any additional action. Payments will be made automatically to about 39 million households, the administration said.

Biden’s coronavirus relief law expanded the child tax credit in several ways for 2021, in an effort to reduce child poverty.

One aspect of the changes to the credit is that the relief law directs the IRS to make advance payments of the credit on a periodic basis from July to December, so that people receive funds in installments throughout the year rather than a single payment when they file their 2021 tax returns. The advance payments are aimed at helping families to better plan their budgets.

Biden’s relief law also increased the maximum credit amount from $2,000 to $3,600 for children under age 6 and $3,000 for older children. Additionally, the law made the credit fully refundable, which will allow the lowest-income families to be eligible for the credit.

Eligible families will receive monthly payments of up to $300 for children under 6, and up to $250 for children ages 6 and older.

10 thoughts on “More free money: Biden to start monthly child tax credit payments July 15”

  1. Well, goody for them. How nice of their President to give them extra cash to “plan their budgets” in this age of spiraling inflation.
    How about me and all of the other seniors who are no longer able to work but are left in the dust of higher costs across the spectrum? An extra $300 would be nice and allow us to “plan our budgets, too.
    ?

    1. SRDEM65

      Uh, haven’t you been paying attention since 2008? Death panels, the Whole Lives Plan by Dr Zeke Emanuel, Obama’s buddy from Chicago, that says we should let everybody die after 75, no medical treatment, and Cuomo’s latest genocide of nursing home seniors due to the plandemic?

      Anybody on a fixed income with no disposable income are of no use to the Marxists. The Leftist looters only have use for you if they can loot your 401k’s, your savings, your paychecks, your profits, and any superfluous wealth they can redistribute to the parasites.

      Sorry, no freebies for you. You paid into social security for umpteen years, paid your taxes, raised law-abiding children and worked your butt off–just the kind of American citizen the communists can’t wait to dispose of.

  2. I wonder how many will be paying attention that this will count against any refund they would have gotten at “tax time”?

  3. Sarah – excellent point. They won’t – they will be “ticked” off when they do their taxes and find out that has already been paid. Afterall – they always get a refund and rely on that to cover expenses, vacation, etc.

  4. It isn’t free money, it’s taxpayers money. After hosting illegals, being forced to rebuild Blue cities destroyed by Antifa/BLM, paying people extra money to remain jobless, and now paying monthly towards people’s child care….what’s left? Why do we even pay taxes?

    1. That’s right, Oklahoma Lady, it’s taxpayer’s money. But, it is also borrowed money. Our taxes aren’t enough to pay for everything so we have to borrow and we have to pay interest on it to the tune of $378 billion as of last year. That’s billions, not millions. I don’t know the breakdown of who gets all that interest that’s paid; I do know the Chinese get a nice share of that $378 B.

      Our National Debt is HUGE. How huge? Each American household now owes $219,342 to pay off our National Debt. At some point, if this trend is not brought under control, worldwide confidence in our dollar will collapse. If this were to happen, heaven forbid, it will make the 1930s Depression seem like a mild case of the flu because this time, thanks to Globalism, it will be worldwide. Current far left extremists in control of our Federal Gov’t don’t care. This is why the 2022 mid term elections are critically important. These demoncrats in the Senate and House need to have their current power taken away! It can be done assuming the current effort to get HR1 passed into law fails.

  5. That’s 39 million households who will not receive the expected and often planned refund in 2022. That’s an election year. This won’t go well for the democrats next year who passed this law.

  6. The famous French actor Gerard Depardieu dropped his French citizenship. They were taxing him at 75%. He became a Russian citizen. They had a flat 35% rate. He said the taxes were not the reason he dropped his citizenship. He was unhappy with the way the French government spent the money.

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