Should We Expect Any Changes in Child Tax Credit Payments in 2022 After the Final Federal Stimulus Check?

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President Biden was unable to extend the American Rescue Plan to 2022. As a result, the child tax credit reverted to its prior level before increasing in 2021. In 2021, the CTC stimulus payment increased from $3,000 to $3,600. Prior to its growth, the CTC was valued at $2,000.

Between July and December 2021, citizens received monthly stimulus checks in staggering amounts. This year, children under the age of 17 will receive $2,000 if their household income does not exceed $112,500 for singles and $150,000 for married couples filing jointly.

 

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Is It Possible That the CTC Stimulus Check Will Change in 2022?

Multiple trials were conducted to examine the effects of the enhanced CTC stimulus check, and the results were consistent. Approximately forty percent of households that benefited from the increased payments may be able to escape poverty. If the CTC stimulus check was to be extended until 2022, the Build Back Better Act had to be passed.

Despite opposition from Republicans, Democrats are working behind the scenes to bring the issue back up in Congress and find a solution. There is bipartisan support for the credit adjustment.

The federal CTC was created in 1997 as part of the Taxpayer Relief Act. Multiple modifications have been made over the years, with the 2021 credit for children and their families being the most significant.

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However, due to Republican opposition to President Biden’s Build Back Better initiative, this vital initiative to alleviate poverty was swept under the rug. Even Democratic senators Joe Manchin and Kyrsten Sinema refused to vote, depriving the Democrats of their razor-thin Senate majority.

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