With the holiday season approaching and inflation at an all-time high, many have some concerns about where they may get the money for their shopping. However, some may be in luck, with a potential form of stimulus money coming their way.
For some, there is additional money they can still claim before the holidays and the year’s end, with The Republic Monitor reporting that those receiving the Expanded Child Tax Credits are set to receive more money in December. Those credits, which have seen monthly payments to eligible parents of $300/child under the age of 6 and $250/child between the ages of 6-17 since July, will hit accounts on December 15 and mark the final ones of 2021.
Those who did not file a tax return in 2021 but notified the Internal Revenue Service of their eligibility for the credits prior to November 15, will actually receive a greater payment on Dec. 15 than those who had been already getting the payments on a monthly basis. They will receive their payment in a lump sum amount, totaling $1,500-$1,800 per child—which is equal to the full amounts that were received by those who got them in the monthly installments.
In addition, some will be able to receive extra cash from their state governments as well, with those still awaiting the Golden State Stimulus Check in California expecting to receive $1,100 at some point during the month, and they aren’t the only ones receiving some state aid. According to Finger Lakes 1 news, Illinois residents could soon see an additional $200 before the holidays, with Republicans in the state’s House of Representatives proposing the one-time payment to single filers earning less than $75,000. Joint filers making less than $150,000 will get $400.
However, while the Biden administration isn’t explicitly against the fourth round of federal stimulus checks, those hoping to receive an extra payment before the year’s end otherwise are out of luck, as a fourth stimulus check still remains unlikely.
CBS Baltimore reports that various reasons come into play that are keeping the payments elusive. While inflation is at a high, the economy has improved, with looser COVID-19 restrictions and consumer spending increases. In addition, with vaccination rates also steadily increasing, with the CDC reporting that 74.7% of the population has received at least one shot, with 59.4% fully vaccinated and 20.9% already receiving a booster dose, the need for another check remains to be seen.
The Biden Administration is also more focused on other economic reforms that don’t include an additional stimulus check payment. Those priorities include infrastructure to help improve roads, bridges, rail service and internet access, as well as human infrastructure initiatives, like Medicare expansion, child care initiatives and climate change.
Representation. A COVID-19 stimulus check. Photo: Pixabay
