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Expanded Child Tax Credit expires today
The monthly payments from the expandedchild tax creditthat have been given to roughly 35 million families in the U.S. during the pandemicwill expire at the end of the month, afterCongress failed to renew the programthat would have been part of the Build Back Better plan.
The payments, which ranged from $250 to $300, started going out in July. Aside from increasing payments, theexpanded programsent checks out monthly, and it broadened the number of families who were eligible.
Studies have shown that the monthly payments have helped to significantlyreduce child povertyandchild hungerin the country.The White House saysthe program would have the potential to couldcut child poverty in half.
Deepa Shivaram brings you more for NPR.
Child Tax Credit changes let parents decide how to use the monthly payments
Included in theAmerican Rescue Plan were changes to the Child Tax Credit for the 2021 fiscal year that became a large scale experiment in basic income for families. The credit was increased to $3,600 for each child under six and $3,000 per child six to seventeen and made fully refundable. With the earnings floor to be eligible to claim the credit removed, many low and moderate income households were newly eligible to claim the full credit.
Households with children 17 or younger received a monthly payment based on income, below which they could receive as much as $300 per child. The payments began in July and the efects of which were seen after the first round. Food insecurity and difficulty paying bills decreased in households with children while rising in those without at a time when many Americans had used up the unds received from the thrid round of stimulus checks
The Tax Policy Center looks at who received the payments and how they were used.
Advocates want to see dental benefits covered by Medicaid
The Democrats' sweeping social and climate policy legislation based on President Biden's Build Back Better plan hit a major road bump as Congress went on holiday. One of the crucial votes in the Senate, where Democrats need all50 they from their side of the aisle, was put into doubt when Senator Joe Manchin said he couldn't vote for the bill despite intense negotiations with colleagues and the White House.
Leaders in the party don't think the legislation is dead and are planning to continue to push for its passage in the new year. With that in mind advocates for federally covered dental healthcare through Medicaid are calling on leaders in Congress to include such a measure in the Build Back Better Act to help sustain the economic recovery and make itmore equitable.
Democrats had originally wanted to include dental healthcare as part of Medicare but were forced to pull it out in order to meet cost reduction requests from moderate colleagues.
Unemployment numbers lowest in 50 years
As the year comes to a close the US economy continues to recover despite the continuingcovid-19 pandemic. Even though the nation, and the world, have seen new cases numbers top the previous peak at the beginning of the year due tothe fast spreading Omicron variant, unemployment numbers continue to fall, hitting thelowest number since October 1969.
The US Labor Departmentreleased new data on Thursday reporting that the number of Americans applying for unemployment benefits dropped below 200,000. The number of people collecting regular unemployment for the week ending 18 December was the lowest sinceMarch 2020. At 1.7 million that was a reduction of 140,000 from the week before.
US NEWS
Which states are offering unemployment benefits to workers who refuse vaccines?
Five states have enacted laws to provide unemployment compensation to workers who refuse to comply with employer vaccine requirements as cases rise rapidly. They may be joined by other states considering similar proposals.
Full details
Dollar rises while world stocks slip over
World stocks saw a mild setback after a seven-day winning streak in the run-up to the final trading day of the year, Even so, markets have seen bumper growth over 2021 with the S&P 500 up 28 percent and the European STOXX 600 is22 percent higher than a year ago.
The US dollar is set to gain on a basket of curencies for a second month in a row, the strength based on the Feds decision to raise rates and fears about the relentless spread of Omicron around the world.
The price of crude dropped just over half a percent on news that China cut import quotas for the beginning of 2022. Brent crude though is still up 50 percent from last year.
I won’t stop fighting for Build Back Better because this bill will improve working people’s lives — and that has and always will be our top priority.
No matter the obstacles in our way, we WILL pass this bill.
US NEWS
Stimulus check 2022 requirements: could you receive it if you didn't apply for it in 2021?
Were you one of the many millions of Americans to receive a stimulus check - or Economic Impact Payment, to give it its formal name - from the Internal Revenue Service (IRS) following the signing into law of the American Rescue Plan in March 2021? If not, but you believe you are entitled to a payment,read on and find out if you can remedy the situation as we head into the new year.
Medicare to cover rapid test costs?
The largest manufacturers of rapid, at-home covid-19 tests have created a new lobbying group that is urging Medicare to pay for their tests, according to federal lobbying disclosures.
Why it matters:Rapid tests have become increasingly important for people to monitor infections as theOmicron varianttakes hold, but the costs and supply of tests have been a sticking point for many people.
Five of the largest makers of rapid covid tests — Abbott, Becton Dickinson, eMed, Quidel and Visby Medical — started the At-home covid Testing, or ACT, Coalition with the express purpose of "seeking Medicare coverage and payment" for rapid covid tests, according to lobbying documents.
Omicron jepordizes economic recovery
The Omicron variant is threatening the economic recovery and leading to staffing shortages around the country. With no legislation to help businesses proposed by Congress, many are worried that what has been achieved during the recovery could be lost. For more on covid-19, flight cancellations, symptoms, and other impacts, follow our live coverage.
Congress decision-making and the filibuster
Whether it be stimulus checks, Child Tax Credits, Medicare, etc, the process through Congress can be a challenging one. Sen. Durbin has shared his thoughts on filibuster reform.
"It has to be done for the good of this country.
"If we don't change the rules to go back to a Senate that truly debates and legislates and responds to the needs of America, then it's going to be a great misfortune for this country."
CHILD TAX CREDIT
$8,000 stimulus check: who gets it, how to apply and when will it be sent out?
The Internal Revenue Services began the distribution of the sixth round of direct payments for the expanded Child Tax Credit in the middle of December, with concerned families around the United States realising that it was the final batch provided for by the American Rescue Plan (ARP). Now, however, there is a potential for some of those parents to receive a payment worth up to $8,000 in 2022.
Read more
US NEWS
Can a fourth stimulus check payment happen in January 2022?
The Omicron variant has led to a surge in cases all over the country and many hospitals are feeling the strain. Additionally, as business slows over fears of infection, some economists worry that without additional stimulus aid the progress made in the economic recovery could be risked.
Full Details
US stimulus check live blog: welcome
Welcome to AS USA’s daily live blog for Thursday 30December 2021.We’ll be bringing youthe latest news on President Biden's Build Back Better bill,which has been dealt a major blow by Democratic Senator Joe Manchin’s announcement that he will not be voting for the legislation.
We’ll also provide information on the enhanced monthly Child Tax Credit,which is due to expire at the end of the month.A major goal of the Build Back Better bill is to extend the scheme,which has seen qualifying households receive up to $300 per month per child.
You’ll also find updates on a potential fourth federal stimulus checkin the United States, in addition to information onunemployment and Social Security benefits.
