President Biden Looking To Make Child Tax Credit Permanent


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The first payment of the child tax credit started flowing to the pockets of more than 35 million families around the country.

President Joe Biden expanded it for one year as part of the $1.9 trillion coronavirus relief package that passed in March.

Some 15 million households will now receive the full credit. The monthly payments amount to $300 for each child who is 5 and younger and $250 for those between 5 and 17, and are set to lapse after a year, but Biden is pushing to extend them through at least 2025.

The president ultimately would like to make the payments permanent.

President Joe Biden extended the nationwide eviction and foreclosure bans until July 31.

The Treasury Department released new guidance for state and local officials responsible for channeling $46 billion in emergency rental assistance into the hands of struggling tenants.

The goal is to use the days to do everything possible to mitigate harmful evictions and prevent a flood of evictions.

More than six million renter households are behind on rent, and State and local programs have been overwhelmed with requests for rental assistance funds.

The CDC, which is in charge of the eviction ban, said the latest extension of the 11-month moratorium was intended to be the last.


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