According to a press release distributed earlier today, the Internal Revenue Service and the U.S. Department of the Treasury announced that the first round of the American Rescue Plan's Child Tax Credit (CTC) monthly payments will start being issued on July 15.
Starting in July, working families will be able to receive up to $3,600 per child for 2021 thanks to the next rollout of President Joe Biden's COVID relief package, which aims to help those who are financially struggling to sustain their lives and maintain their families amidst the onslaught of the pandemic.
For some, $1,200 could mean the difference between feeding their family for a few months and...not. For some, it may have helped with some more advanced financial needs. No matter where you stand right now, there are smart and good things you can do with your stimulus check.
(Chicago Sun Times) — A stimulus program that has given job training and work experience to 26,000 low-income Illinoisans will end today unless Congress extends its funding. Gov. Quinn extended the “Put Illinois to Work” program for two months past its original Sept. 30 expiration date by allocating $75 million in state money on Sept. […]
by Charing Ball My uncle Keith, who has been unemployed since last November, has only one plan for this Labor Day weekend; scouring the help wanted ads and sending out resumes. Uncle Keith, who has dedicated most of his adult life to the military and had worked for over 20 years at the same software […]
(NY Times) —President Obama signaled on Friday that countries in Europe should not withdraw their extraordinary spending programs too quickly. In a public letter to other leaders of the Group of 20 nations in advance of a summit meeting in Toronto next week, Mr. Obama wrote, “Our highest priority in Toronto must be to safeguard and […]
(New York Times) — At a moment when many economists warn that the American economic recovery is likely to be imperiled by prolonged high unemployment and slow growth, President Obama is discovering that the tools available to him last year — a big economic stimulus and action by the Federal Reserve — are both now politically untenable. […]
(CNNMoney.com) — Think states have made deep spending cuts? You ain’t seen nothing yet. States have been struggling with huge budget gaps since 2008, but this year could be worse as federal stimulus funds wind down. Until now, stimulus money spared governors and state lawmakers from making some of the most brutal budget cuts. But […]
(CNNMoney.com) — The panel of economists responsible for officially deciding the length of recessions said Monday that it’s “premature” to say when the recent downturn ended. The National Bureau of Economic Research said the panel met Thursday in the hopes of determining when the economy, which slipped into recession in December 2007, hit bottom. Read More…