Home Finance Your 2 Stimulus Checks For CTC Awaits This February: Details inside

Your 2 Stimulus Checks For CTC Awaits This February: Details inside

If this is not good news for the parents, what is it! While people awaited their Stimulus Checks in January, some unseen conditions blocked the payments going out in January. 

Your 2 Stimulus Checks For CTC Awaits This February. Is It Really True?

While American families looked forward to positive news on Child Tax Credit Payments, the announcement of the remaining payment being settled in February was excellent. It was for all those who have their tax details sent to them in a letter from the IRS. 

Why Did Stimulus Checks Did Not Happen

While families are excited about the two Stimulus Checks in February, knowing the reason for payment not happening in January. The main reason for Child Tax Credit checks not happening in January was the failure of President Biden’s nearly $2 trillion Build Back Better plan to get the much-needed support. 

With the West Virginia Senator pulling out the support from the bill, it lacked the number of votes needed to move ahead. With this, the IRS advised the Biden administration to get the order signed by the President at the earliest to make the January payments get going. 

Criticism Faced By Manchin

Refusing to support the West Virginia Senator Jon Manchin (D) bill ended up with a lot of criticism. While most of his fellow Democrats criticized him for not being a true Democrat for opposing legislation posed by his declared party, others questioned his position in the group. 

What The Authorities Have To Say

The IRS needed Congress to pass the bill before December 31 to make the Child Tax Credit (CTC) payment. But unable to do so, no new CTC was completed in January. 

But that’s not the end. White House press secretary Jen Psaki stated that the administration is working on the bill and, if completed in time, would reinstate the pending payments. 

With the administration still working on the Build Back Better plan, various speculations are linked to the path of getting approved. One of the ways suggested is to break it into smaller parts and get each part separately voted. 

Are There Challenges Still? 

Challenges are still plenty. The double payment in February depends on everything going on smoothly without any new roadblock. But with the midterm elections in 2022, you cannot deny the vulnerability. Secondly, Democrats need to rethink Manchin. Right now, for them, every vote counts, and to get that, sticking around is essential. 

Well, nevertheless, Manchin and President Biden have discussed and are on their way to revisit negotiation and select the right way to pass the bill; those Stimulus Checks are not on hold for long now.