On Monday, IRS will deposit a new stimulus check into the bank accounts of tens of millions of Americans. This is about the last child tax credit payments. Some Americans may also get a total of up to $6,500 in 15 locations.
What is the most crucial information concerning the remaining payments? There are just two of them remaining. On Monday, November 15, there will be one, and then on December 15, there will be the last installment in the series. As it were, the million-dollar question: What will happen next year?
A number of families may get up to $7,200 in Child Tax Credit 2022 from the IRS. (Photo: Techno Trenz)
Stimulus Check Update: Child Tax Credit Update
Only two more child tax credit payments are expected this year, according to BGR. Both of these checks will usually be for the same amount as the previous four checks. Of course, there are certain exceptions.
Some Americans, for example, have yet to receive any of the six checks in this series. However, if they join up by November 15 (details here), they should get a single payment in December that will catch them up.
Also, apart from what may or may not occur next year? This year’s six child tax credit installments come with an added bonus. Those six only accounts for half of the child tax credit amount allowed for qualified households.
What Happens Next?
For the time being, that growth will come to an end in December. It is worth mentioning, though, that the Democrats may have painted themselves into a position.
Registered voters will have to vote for the midterm elections held next year. Democrats have just spent the last six months reacquainting Americans (i.e., voters) with the reassuring regularity of a fresh federal government salary. Finding a means to keep these payments running is undoubtedly in Democrats’ political interests.
To that aim, Democrats are working on a proposal to prolong the increase of the child tax credit for another year. But people should not set anything in stone yet. But, there is a chance that another year’s worth of these checks may arrive for the time being.
Chicago Basic Income Program
Chicago’s universal basic income pilot has already received approval from lawmakers. Low-income families will get a $500 monthly stipend as part of the initiative. In a tweet, Chicago Mayor Lori Lightfoot said it is the most progressive budget in the city’s history.
Today we passed the FY2022 Chicago Budget making it the most progressive budget in City Hall's history. #chibudget22 pic.twitter.com/abfVg5RS87
— Mayor Lori E. Lightfoot (@chicagosmayor) October 27, 2021
Lightfoot announced a $31 million universal income pilot program for local households earlier this week. According to Lightfoot, “I understood what it was like to live check to check as a kid. When you’re in a tight position, every dollar counts.” This page contains complete instructions on how to apply.
Basic Income Program in 15 Cities
Many government institutions are aware that their citizens are in need, and authorities are doing all they can to assist them. Many people started financial help programs in their own communities. Daily Mail compiled a list of 15 cities with current bids or approved basic income schemes.
Tacoma, Washington: Growing Resilience in Tacoma (GRIT) will give $500 monthly payments to 100 families for one year.
Saint Paul, Minnesota: The People’s Prosperity Guaranteed Income Pilot will provide $500 monthly payments to 150 households for the next 18 months.
Newark, New Jersey: 200 participants will get $250 payments every two weeks for 24 months, while another 200 will receive $3,000 installments over the next two years. Both programs are part of the Newark Movement for Economic Equity.
Saint Paul, Minnesota: Mayor Satya Rhodes-Conwa is soliciting funds for a soon-to-be-announced reliable income pilot.
Denver, Colorado: The Denver Basic Income Project will give secured income to homeless people ranging from $50 to $6,500.
Columbia, South Carolina: Under the Columbia Life Improvement Monetary Boost (CLIMB), 100 participants will be guaranteed $500 monthly payments for 12 months.
Chelsea, Massachusetts: For many months, 2,040 low-income households will get guaranteed income of up to $400.
Baltimore, Maryland: Mayor Brandon Scott is apparently working on a steady income pilot program for the city.
San Diego, California: As part of the Resilient Communities for Every Child Initiative, 150 randomly chosen participants will receive $500 monthly payments for at least 24 months.
Sacramento, California: The Direct Investment Program in Sacramento (DIPS) will provide $300 monthly payments to 100 families for a period of 24 months.
Long Beach, California: Mayor Robert Garcia wants a secure income system for local artists. The scenario is still developing, and there was little information on the idea accessible.
Los Angeles, California: Under the Basic Income Guaranteed: LA Economic Assistance Pilot (BIG:LEAP), 2,000 city residents will be guaranteed a $1,000 payment in the following year.
Oakland, California: The Oakland Resilient Families initiative will provide $500 monthly payments to 600 families for at least 18 months.
Compton, California: The Compton Pledge would provide $300 to $600 payments over 24 months to 800 residents.
RELATED ARTICLE: Stimulus Check Update: Here’s Why Thousands Of Americans Abroad Got Payments
