Stimulus Check And What Lies Ahead

Stimulus Check
Stimulus Check

A new round of the stimulus check will start hitting the people’s accounts in the month of July. It will be in the form of direct cash payments. This is a part of the child tax credit that was brought about by the American Rescue Plan. As per sources, the payments will be given from the 15th of July till the 15th of December. According to the Department of Treasury, it was stated that direct payments will be made to about 39 million citizens of the country.

Stimulus Checks For July

Addressing the question on the continuity of the child tax credits, Joe Biden, the American President had given an indication stating that it might be permanent. It was stated that he hopes for the stimulus checks to become permanent solutions for the families. It will go a long way in pushing the families to survive these hard days.

The White House had given a statement on the nature of the July 2021 credits. It was told that the payments are a part of the larger American Rescue Plan and will only be applicable in the year 2021. However, as per the plan of President Joe Biden called the American Families Plan, it makes the proposal of extending the relief payments for several more years.

It has been stated that the plan provides 300 USD per child of stimulus checks for those families who are able to receive it. That is for the ones who have a child under 6 years of age. And for those having children over 6 years, the amount is 250 USD. According to a source, it has been stated that the families who earn 75,000 USD or less than that will be eligible to receive the stimulus checks. And for those who earn more than the stipulated amount, the figure starts to decrease.