Are You Eligible for the Monthly Payments of Up to $3,600 in the New Bill?

The goal of the bill being developed by a group of U.S. senators was to get “funds in the wallets of employed individuals” and assist them in keeping up with cost increases. It will support households using tax cuts and credits. One of the suggestions is to raise the Child Tax Credit (CTC) such that qualifying families might get monthly payments of up to $3,600.

Sherrod Brown of Ohio, Michael Bennet of Colorado, Cory Booker of New Jersey, Raphael Warnock of Georgia, Ron Wyden of Oregon, and Dick Durbin of Illinois are the 6 Democratic senators who are leading the effort. As per a press statement from Brown on June 14, they intend to join the other 41 Senate Democrats in recommending the Working Families Tax Relief Act.

By increasing the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC), the Working Families Tax Relief Act will lower taxes for individuals and households. The press release stated that expanding these programs “will put millions of extra Americans on the path to the middle class and enable parents’ sacrifices to finally pay off.”