Posted on 12/15/2021 9:05:24 AM PST by Oldeconomybuyer
Millions of Americans have weathered the COVID-19 pandemic with the help of direct cash payments from the U.S. government, via stimulus checks, extra unemployment benefits and the expanded Child Tax Credit. But that last financial buffer may come to an end on December 15 when the IRS sends out the sixth — and potentially last — check to parents.
That would close the door on the nation's biggest federal cash-assistance programs, which began in 2020.
Experts credit those six months of direct payments with helping millions of low- and middle-income families afford basics like food, rent and car repairs, as well as child expenses like clothing and education. Without that aid, almost 10 million children may slip back into poverty, according to a recent analysis from the left-leaning Center on Budget and Policy Priorities.
"No family in America should struggle to get by," said Gaylynn Burroughs, senior policy counsel at The Leadership Conference on Civil and Human Rights. "Without the CTC, these families — many of whom are families of color — will be forced back into a position of instability."
The cash payments for families also bolstered the economy during the pandemic, providing them with money to spend on daily necessities as well as on things like outdoor furniture and home renovations that people turned to during the pandemic.
That spending has bolstered corporate earnings and jump-started economic growth.
(Excerpt) Read more at cbsnews.com ...
Last Child Tax Credit check set to go out.
That could push millions of PARENTS into THE WORKFORCE.
Fixed
EXACTLY!
Democrat/communists know if they can get people used to dependence they will demand it.
And, yet, how many THOUSANDS of extra IRS auditors was this administration just asking to hire to address this ‘totally free’ BBB-BS program cost?
I have come to the conclusion in this life, that democrat policies are the most to blame for poverty.
Tough.
Can’t feed ‘em? Don’t breed ‘em.
Every business I enter has help wanted signs. Every business owner I talk with is frustrated that no one wants to work. Get a job already.
And there will be a rude awakening for them come early 2022 when they’re not going to get the bloated annual “tax refund” (aka welfare handout) to which they are accustomed. The fine print is that they’ve received it as an advance... and they have no clue.
Could...potentially...maybe...
Here there are beggars at almost every busy intersection and almost every business has help wanted signs in its windows.
Their assumption is that the kids cannot survive without money from the government.
That is a guaranteed formula for destruction of the economy by training people not to work. Inflation would become even greater and the economy would collapse.
And there will be a rude awakening for them come early 2022 when they’re not going to get the bloated annual “tax refund” (aka welfare handout) to which they are accustomed. The fine print is that they’ve received it as an advance... and they have no clue.
—
True dat.
Or, there are hundreds of colorful signs all over the city, saying Now Hiring. Parents can get paid up to $22/hr doing monkey work.
Which is why the IRS needs more agents to look at tax returns...
They WILL FILE for it again-—and refuse to realize they already got the money.
In two weeks, all of the headlines will be to the effect that children will freeze to death due to the cost of heating combined with the government taking away this free money deal. Somehow, the MSM will make sure it sounds like this is due to the GOP’s values.
I expect this program to be reinstated by the middle of January.
Surely you jest. The new Congress in 2022, whatever the party composition, will hear the hue and cry of the angry masses, and quickly “fix” that little problem of the so unfairly denied child tax credit refunds.
Well said.
Sure they spent them on “daily necessities”
How would CBS know that anyway?
A whole bunch of them made trips to Best Buy and Amazon
Besides They get the other half of the credits when they file their tax returns which is one month away I am sure they will survive
What a scam this is along with the earned income tax credit
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