FAMILIES could be set to receive up to $3,600 per child in tax credits as part of Joe Biden’s Covid stimulus plan.
Senior Democratic lawmakers are drafting legislation that would direct the Internal Revenue Service to send recurring monthly payments to tens of millions of American households.
The windfall for families is part of Joe Biden’s stimulus package Credit: AP:Associated Press
Under one draft of the plan, the IRS would be tasked with depositing checks worth $300 every month per child younger than six as well as $250 every month per child aged six to 17.
Officials told The Washington Post this all adds up to $3,600 over the course of the year for young children, as well as $3,000 a year for older kids.
Unlike the stimulus checks, the Biden administration and Democratic lawmakers are hoping to make the child benefits permanent, a source said.
The benefit would be phased out for well-off Americans, although the precise income level has not been worked out.
Under the plan, the IRS would send these payments in a similar way the $1,200 stimulus payments were dispatched.
BIDEN SPEEDS UP CHECKS AND FOOD STAMPS
Taxpayers would not have to wait until they file their taxes to receive the benefit and would still get it if they owe the government tax.
One senior Democratic aide said: “This will have more collective buy-in if a broader swath of the population directly receives the payment.”
It comes as Biden will sign an executive order today to speed up the delivery of $1,400 stimulus checks and expand food stamps.
Earlier this month, Biden revealed that he is intending to send a third $1,400 stimulus check to Americans as part of the package.
A third stimulus check of $1,400 is set to be passed by CongressCredit: Getty Images – Getty
Signing the order today Biden will ask the Treasury Department to take steps to expand and improve the delivery of the stimulus checks, such as setting up online tools for claiming payments.
The $1,400 stimulus check will be added to the $600 checks previously approved by Congress.
“Many Americans faced challenges receiving the first round of direct payments and as many as eight million eligible households did not receive the payments issued in March,” a White House fact sheet said.
The president will also sign an order to increase access to food for millions of children who are missing meals due to school closures.
The weekly value of food stamps could be increased for some 12 million families who depend on the Supplemental Nutrition Assistance Program.
It could provide a family with three children more than $100 of additional support every two months.