In 2022, Will There Be a $2,000/month Stimulus? New Updates!
Is there a probability that a stimulus payment of $2,000 per month per household will be implemented in the United States in 2022?
With the expiration of the Child Tax Credit in December 2021, the final payment will be made on December 15, 2021. There have been discussions about extending the program until 2022, with qualified households receiving up to $2,000 per month in assistance from the government.
For the past many months, the government has been debating this matter back and forth between itself and the opposition.
According to Fox Business:
Days after Sen. Joe Manchin voted to kill the $1.7 trillion tax and spending package, Democrats are making last-ditch efforts to rescue a major component of their ambitious tax and spending plan.
It is still up in the air how the proposed stimulus child tax credit would look in terms of eligibility and if the amount would remain the same or later in the year 2022, among other things.
Many people refer to this tax credit as “poverty-fighting” because it is expected to help many families who would otherwise be living in poverty.
Senator Ron Wyden, D-Ore., who chairs the Senate Finance Committee, stated:
“We want to do all in our power to keep the child tax credit on schedule,” said the administration.
What Happens When the Child Tax Credit Is No Longer Available?
Individuals will see a monthly reduction in their household income equal to the amount of the tax credit, which may increase their likelihood of experiencing difficulties making mortgage and rent payments, paying bills, and suffering food insecurity.
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The author of this essay discusses how food insecurity could become a concern as the tax credit expires at the end of December. They mention that a Census Bureau survey has found that hunger is on the rise as a result of the expiration of tax credit relief.
According to Bloomberg:
Because of the expiration of pandemic relief payments and the spike in grocery costs, the United States Census Bureau estimates that more than 21 million Americans did not have enough to eat in early December, an increase from the previous month.
Would you be interested in hearing your thoughts on the likelihood of a $2,000/month stimulus child tax credit being implemented in 2022?
Please express your thoughts in the comments section.