UPDATE on $3,600 Child Tax Credit 2023| STIMULUS CHECK UPDATE

President Biden's urge to extend and increase the child tax credits has continued this year in 2023 and the most recent legislative sessions has seen strong momentum toward creating and expanding the child tax credit these efforts build on the success of the federal child tax in reducing child poverty and improving outcomes for children in the near and the long-term future so what exactly are the Democrats trying to push they're trying to push for 3 600 for children ages birth up until five years old and three thousand dollars per child aged 6 up to 17 and they're also trying to push paid in monthly installments and make it fully available for people with little to no taxable income now the Republicans are proposing a bill to increase the maximum benefit to 4 500 per child for ages birth until five and thirty five hundred dollars for children aged six and up so you would have the option to to take the monthly payments from the child tax credit or selecting it as a one-time lump sum at tax return Season what they really want to do is Phase it in between months because it's really going to help with the building of the budget and helping people be able to pay monthly bills which is really what this is focusing on now additionally I want to add their pushing for a baby bonus and listen they want to pay people to have children the baby bonus will be a one-time payment of two thousand dollars for newborn babies so let me tell you guys why this is relevant and why they're really pushing for a baby bonus it's not just to give people extra money they're actually pushing for this because the amount of new births have plummeted over the past 15 years in America so it's actually unhealthy for the American economy in the future to have such a decrease in bursts over the past 50 years so according to Dr John Rowe we need to have a long term stable Workforce to sustain our economy pretty much why they're offering this baby bonus however this is going to be part of it if it gets passed and you've had a newborn you are going to get that two thousand dollar bonus so at this time they're still debating the child tax credit has not been passed yet as the American people we have to wait patiently in order to see whether or not this is going to get passed and how it's going to actually help our economy in the future and help those supportive middle class families get through some of these high inflation times if you have any questions please leave a comment down below any questions concerns I'll be happy to get back with you as always you guys thank you so much for your support and I look forward to seeing you all in my next video bye