It was the first month since July 2021 that Americans did not receive the improved child tax credit payments every month. From July through December 2021, these stimulus checks used to arrive every month like clockwork. The argument over a fourth stimulus check continues, although it remains a long shot for the time being. And there are few signs that it will be revived anytime soon.
The tumultuous situation in the Senate has also hampered any possibilities of President Biden’s child tax credit monthly installments being extended.
With even Democratic Senators unable to commit to any additional stimulus checks, it is up to one Senator, Joe Manchin, to make a move and allow the child tax credit stimulus check to be extended.
CTC payments are still being made online, at least for the remaining 50%. Millions of residents, including those who received monthly CTC payments, will receive the remaining 50% after filing their income tax returns for 2021, which are due in a few months.
All of these payments were made as part of President Joe Biden’s Rescue Plan, which he announced at the start of his tenure. The enhanced CTC payments, which were increased from a maximum of $2,000 to $3,600 for children under the age of six, were included in the $1.9T fund. It was $600 cheaper for children aged 6 to 17.
The first half of the payments were split into six monthly installments beginning in July, and the balance will be paid against this year’s returns.
Things have reverted to their previous state, with Joe Manchin remaining committed to scuttling the whole enterprise. The IRS has begun mailing letters to recipients of the CTC payments. As a result, you’d have to keep a close check on the letterbox.
President Biden is still trying to persuade Manchin, a member of his party, to tone down his rhetoric. Families with children, on the other hand, must limit their expectations for the CTC stimulus check to $2,000 until then.