Stimulus Check has provided a great amount of relief to all the citizens of America. The program was announced by the administration of Joe Biden. These checks aimed to reduce the financial stress of the people. Most of the households reaped the benefits of the sanctioned money.
They utilized it to buy necessary items for the proper functioning of the household. Many families used it to meet their food needs as well. The monetary assistance allowed the families to focus more on productivity. However, after the third check was issued, the government did not announce any further checks.
This was a big concern for all the people of America. They believed that the crisis was not yet over. A large number of households are still recovering from the ill effects of the pandemic. Thousands of people have lost their jobs. These people have been rooting for the fourth round of stimulus checks to the federal government.
The government is encouraging the reopening of local businesses. This would mean more job opportunities for the people. The vaccination campaign is also being promoted rapidly. The situation for more stimulus checks has become increasingly doubtful.
US President, Joe Biden himself has raised his concerns. Let us learn more about the story in detail below.
Stimulus Check: No CTC Extension In 2022?
Joe Biden provided the families with Child Tax Credit in 2021. Families earning below $75000 were granted stimulus money for the welfare of their children.
Kids below six years were entitled to a sum of $3600. Kids below eighteen years received $3000 as CTC payments. Biden announced a possible extension of the program for a year.
However, the government received a huge blow when the Build Back Better was not approved. The Infrastructure bill went down the drain with staunch opposition.
This has made Biden doubtful of whether the CTC payments will be extended or not. The President also expressed concerns regarding stimulus checks for college students.