New Emergency Stimulus Money For Families Of All Incomes

children playing together
Via Pixabay
Shiavon Chatman
May 21, 2021

While we champion self-sufficiency for our people, the wealth gaps we deal with can make this difficult. Government assistance and stimulus checks weren’t consistent during the pandemic – but a potential solution is on its way.

President Biden recently introduced the American Rescue Plan, also known as the latest stimulus package. For the first time ever, Child Tax Credit payments will be given to over 39 million families starting July 15. But who qualifies?

Almost everyone. Families with incomes of $150,000 or less, or an individual making $75,000, will get $300 a month for each child under the age of 6 and slightly less for older children. Even if you make more, you’re still eligible for something – it depends on your income and children’s ages.

These funds will be distributed by debit card, direct deposit, or check, so lower income people aren’t shut out, and they’re an advance payment on 2021 tax refunds, so they don’t have to be paid back. Almost 90% of American children will benefit from these monthly allowances. This could have a huge impact on child poverty!

The IRS says nobody has to do anything right now other than look forward to July 15th. This will help Black people on ALL sides of the income spectrum with caring for their children! Hopefully this program lightens our heavy load.

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