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Millions of families will lose child tax credit soon: Here’s how it will happen

FingerLakes1.com
FingerLakes1.com
 2021-10-22
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Senator Joe Manchin of West Virginia came under fire this week from progressives after his intent to place an income threshold of $60,000 on child tax credit payments. These payments have been crucial to sustaining families during the pandemic.

Since July families have received $300 per child under 6 and $250 per child between 6 and 17.

Democrats have been debating about the future of the payments, and whether they should continue beyond 2021.

Child tax credit payments could be cut off to 37 million children

The Niskanen Center says the change would mean 37.4 million children no longer benefit from the child tax credit payments.

Currently, any family that earns less than $150,000 per year is eligible or the child tax credit payments. The benefit was expanded from $2,000 to $3,600 per child in the American Rescue Plan. That was signed into law in March by President Joe Biden.

Half of the tax credit is being paid out in monthly checks issued by the IRS. While the other half will be claimable on 2021 tax returns.

A work requirement has been debated by Republicans and Democrats as a compromise to continuing the child tax credit benefit beyond this year. However, progressive opposition to that has indicated the most vulnerable Americans need the funding and are often unemployed. Worse yet, many Americans are suffering from underemployment – a phenomenon brought on by a large volume of low wage jobs.

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Comments / 67

Kathys Janece
10-22

good why should parents who can work get any help when people with disabilities and seniors are struggling I had to work to raise my kids so can they

Reply(12)
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it'sMe1122
10-22

I'm confused...i definitely have worked constantly since I was 15, without a employment gap. yes I have 4 children I 100% take care of alone and I don't receive ANYTHING, no support, housing, stamps, ect and the government takes from me all year when I could definitely use it. so why should I not be able to receive this money? because I work I'm pretty sure I'm entitled to it because it's people like me who are providing money to the government for this type of thing and multiple other things I don't agree with... Don't think of a refund as "free money", it's already yours. The money in your refund as an interest-free loan to the government. Filers who overpaid their taxes during the year get a tax refund. You get a tax refund when you pay more taxes to your state government or the federal government – through payroll withholding. the government will cut you a check for the amount overpaid.so again why should parents not be able to receive the money that they're putting into the gover

Reply(4)
22
Slappy Boots
10-22

good why should they get child tax Care credit every month instead of once a year like they used to get and don't give it to the non-working people give it to the people that are working why should they get why should they get child tax Care credit once a month to make their lives easier that have kids and everybody else is struggling and suffering to make it every month and he also lied to SSI and SSDI about the $200 increase in our checks per month where's that and where's the last $2,000 stimulus check we were promised it went to child tax Care credit that's where it went that's not fair to anybody 👍👍🤔🤠

Reply(1)
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