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Wednesday, August 10, 2022

Stimulus Check Worth $1,250 For Eligible Families

The CTC Stimulus Check was enhanced last year, resulting in monthly installments of up to $300 for qualifying families.

It was not, however, extended until 2022, meaning that many people who are struggling economically have been without a Stimulus Check since December. However, as a new law is being written, this might change in the near future.

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Sen. Mitt Romney of Utah, a Republican, introduced Family Security Act (FSA), which is similar to the Child Tax Credit but provides extra funding. Families will get $350 per month for each kid below six, and a $250 stimulus check for each child aged six to seventeen. The highest monthly stipend is $1,250 per household. 

Check If You Are Eligible For The New Stimulus Check

Every family with one tax-filer earning less than $200K and every household with two tax-filers earning less than $400K will receive the whole benefit. It will be allocated to individuals who make more, but for every $1K made over certain levels, it will be reduced by $50.

Unlike the CTC, the stimulus check proposal includes a catch: claimants must volunteer, train, or work for at least 80 hours each month, which is likely why it hasn’t been made public yet. While members of both parties agree that aiding families is important, the addition of a job requirement is a thorny topic that is now being resolved.

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Nonetheless, given that the White House has emphasized that the Federal Child Tax Credit should be kept for “years and years to come,” this might be a reasonable compromise.

Households, including those sans children, could be able to obtain monthly payments again if a solution is found swiftly. The idea allows parents to qualify for welfare up to four months ahead of their baby’s due date.

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