Another round of the child tax credit stimulus checks is to be given out from coming Friday. The first batch of the money was generated in the month of July. Following that, another round is to be given out from the 13th of this month. As per the eligibility, the administration of Joe Biden, the President of the United States of America, has claimed that almost every family having children will be receiving financial aid payments. And the money will continue on a monthly basis until the end of this year.
Stimulus Checks For The Parents
The child tax credit stimulus checks provide 3,600 USD for one child. And this amount is for those kids who fall under the age group of 6 years. The federal government provides 3000 USD for those kids who fall between the age groups of 6 and 17 years old. Usually, the amount of the child tax credit stimulus checks is 2000 USD for one household. The amount was expanded by the Joe Biden administration. The main reason behind this was to inject money into the economy of the country during the coronavirus pandemic.
In the midst of the Delta variant of the coronavirus, which is claimed to be much more contagious, the money provided by the government will probably be a lot useful to so many families of the country. It is also to be noted that the cases of infection are increasing at a great speed in the country.
Most families will either receive 250 USD or 300 USD every 15th until December. This month is the only exception. This is because the money will be given on the 13th and not on the 15th. In order to be eligible for the stimulus checks child tax credits, the income of the parents must not go beyond 150,000 USD. On the other hand, single parents must earn up to 112,500 USD.