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Saturday, May 28, 2022

Stimulus Check: Should CTC Be Extended?

Joe Biden, the President of the United States of America, had previously stated that the child tax credit stimulus check payments that will be provided by the federal government will be given to almost 90% of the families of the country. The money is provided on the basis of monthly payments. As per the answers found from the studies that were carried out with regard to the effects of the monthly payments, it has been found out that the said money is set to boost the economy of the country in a very strong manner. 

On Stimulus Check’s Extension

It is already a known fact that the current money provided in the form of the stimulus check child tax credit payments will only be provided until the end of the year 2021. However, there are ongoing talks in the country with regard to the possibility that the government might expand the said federal aid payments. And this may be the case for a very long time. In one of his statements, President Joe Biden has stated that the money provided in the form of the stimulus check child tax credit, will help the households of the country to meet their basic expenses in times of the ongoing economic crisis.

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The Democratic president has further added that most of the children’s organizations in the country had stated that the need for child tax credits would go a long way in improving the condition of the children throughout the country. In case the current “American Families Plan” gets the approval of the Congressmen, the said will be extended until the year 2025. According to a recent study, it has been found out that the stimulus checks provided to the eligible parents will have a major role in uplifting the economy of the country. It will also be responsible for producing new jobs in the country.

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