$393 Monthly Stimulus Check Could Be Coming Soon To Millions

Due to the long-lasting and challenging financial effects of the pandemic, as part of President Biden's American Rescue Plan in 2021, the Federal Child Tax credit was expanded. The move saw eligible families receive up to $300 for every child under the age of six, and up to $250 for each kid ages six to 17, every month - a total savings of up to $3,600 annually. Those credits, however, expire this tax year and the credit will now be capped at $2,000 per year per kid. To offset the change, several lawmakers have proposed a monthly payment of $393 per child.

It's called the End Child Poverty Act and would be available to any family, regardless of income level. It was introduced by Rep. Ilhan Omar (D-MN), Rep. Rashida Tlaib (D-MI) and Rep. Jesus Garcia (D-IL). In a press release, Rep Tlaib said, "The End Child Poverty Act will create a universal child assistance program and ensure that every child has the resources they need to reach their full potential."

Rep. Omar added, "In the midst of a devastating pandemic, President Biden and Democrats in Congress took dramatic action to help families in my district stay afloat — expanding life-changing benefits like Medicaid and SNAP, and expanding the child tax credit to finally benefit the most vulnerable among us. This action alone cut child poverty nearly in half. It is a tragedy that we let the child tax credit expansion expire."

If passed, the payments would be distributed by the Social Security Administration and eligible recipients only need to have a child or children under 17 whom they claim as a dependent on their tax return. The child or children have to have lived with the tax filer for at least half the year. The only other requirement is that the filer must be a U.S. citizen, national or resident alien.

No word on if or when the proposed bill will be voted on by the House of Representatives.