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American News May 17, 2021 10:47 PM EST

Biden's monthly child tax credit payment scheme starts in July

Beyond a monthly payment system, the dollar amount cap was raised from $2,000 to $3,600.

Biden's monthly child tax credit payment scheme starts in July
Nick Monroe Cleveland, Ohio

This article was published more than 1 year ago, information might not be up to date.

It’s a move claiming to be aimed at lifting “more than five million children out of poverty,” but this money will be going out into a country experiencing inflation.

Per NBC News, roughly 39 million US families will begin receiving monthly child tax credit payments. This is normally something that’s done on an annual basis. But now starting in July, American families will get monthly checks on the 15th of every month. Up to $300 for every person under six years old, and up to $250 for children ages 6 to 17.

Biden administration officials said monthly payments help to plan budgets, and that they’ve “streamlined” the process with experience gained in the previous stimulus check distribution.

This shouldn’t be confused with President Biden’s other wealth redistribution scheme, the American Families Plan. In short it proposes extending this child tax credit increase through 2025.

Per CBS:

“With today's announcement, about 90% of families with children will get this new tax relief automatically, starting in July. While the American Rescue Plan provides for this vital tax relief to hard working families for this year, Congress must pass the American Families Plan to ensure that working families will be able to count on this relief for years to come. For working families with children, this tax cut sends a clear message: help is here.”

It’d cost more than $100 billion a year.

This monthly child tax credit payment scheme was something included in the $1.9 trillion American Rescue Plan passed by Congress back in March. The same package included the $1400 stimulus checks in redistributed wealth to people across America. But it also gave bailouts in the millions of dollars to US universities, as well as created a longstanding incentive for people to stop working.

In America, the government is just giving money away. Embattled California Governor Gavin Newsom issued $600 checks to more than 2.5 million people in his state. No doubt quietly hoping the money would win hearts and minds in his favor amid the recall effort. Over in Ohio, Governor Mike DeWine announced he’d be giving away millions of dollars to five lucky vaccinated people, in a sweepstakes drawing.

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