The federal government of the United States of America will not be giving any additional stimulus checks to the citizens. At the same time, people have been struggling with financial crises and inflation. Several US states stepped up and announced that they provide financial aid by sending more stimulus payments.
On the other hand, the COVID-19 pandemic benefits and credits have also expired. The tax credit for children (CTC) is now going to be reduced to the pre-pandemic amount. However, parents and guardians have good news this holiday because the government has promised to provide stimulus checks for children worth $1,200.
Children’s Stimulus Check Is A Holiday Cheer
This stimulus payment for children will be delivered through direct payment all over the country. This new plan was announced mainly due to the excess surplus in the state budget and the government decided to utilize this fund against child poverty.
The CTC that was $3,600 during the pandemic is now cut down and many families have been facing trouble purchasing basic needs including food, medicines, and gas. Other US states have also been discussing plans to make relief payments for children and make them permanent. Montana is one such state taking this initiative.
Eligibility And Timeline
The surplus budget of the Montana state was a whopping $2 billion. Greg Gianforte, Governor of Montana, offered $1 billion as a tax that must be cut from the budget surplus. Children below 6 years of age will be receiving $1,200. However, the details regarding the maximum amount remain unknown.
New York has also proposed the idea of a Tax Credit for working families that might provide $500 to $1,500 for each child. This program is under discussion to be combined with the state’s tax credit for income as well as for children.