The federal government of the United States of America has already provided citizens with large financial aid. The stimulus checks were given in order to encourage them post-COVID which affected all lives. Eligible citizens of the US received the money in their bank accounts directly.
US Citizens Need Extra Stimulus Checks
Despite the stimulus checks handed out to citizens, the economy is experiencing inflation. The high living costs along with rising energy prices after the Ukraine-Russian conflict have made it difficult for everyone.
Grocery and gas prices are now gradually decreasing, and American citizens are finding it tough to make ends meet. Unfortunately, the federal government has already made it clear that they not planning on giving any more stimulus checks. Congress can pass the Rescue Plan only during the election which is not anytime soon.
US midterm elections are tentatively scheduled on 8th November 2022. It is heard that the Rescue Plan does not have a lot of support votes.
States Come Forward In Aid
Parents can expect almost $3,600 for children below 18 and $3,000 for children aged 6 to 17. This was decided after the government brought changes in the Tax Credit for Children under present regulations.
During such trying times, many of US states came forward to help their residents by providing additional stimulus checks. This extra money was given as a relief payment so residents can cope with inflation and buy basic necessities like food, gas, and medication.
Several US citizens foregone tax filing since they owed no taxes at all. It is believed that most people were unaware of the benefits of filing taxes. Tax credits are refundable including Income Earned Credit, Tax Credit for Child and Dependent, and Child Care Credit.