$175 per month as a monthly US government child stipend, no strings attached? This may happen soon.
Big news about the child tax credit:
Democrats in congress are pushing to approve a permanent law which would increase the maximum value of the child tax credit to $2,100 from $2,000 by 2025. In addition, it would be fully refundable, and it would not be based on work.
So parents would receive the full amount, per child, even if they have little or no income.
This would be a big change to policy, which is similar to the temporary Enhanced Child Tax Credit of 2021, which had similar rules (albeit a much higher amount of $3000-$3600 per child).
They want that these payments should be divided up as monthly payments, much like the first 1/2 of the 2021 payments.
In fact, they are pushing to have this law approved before Jan. 29, when the IRS starts processing tax returns, so that this change can be implemented as a 2023 tax refund as well.
It remains to be seen if the proposed change would include US citizens living abroad, or if they would be excluded as they were from the Enhanced Child Tax credit of 2021.
Let's hope that this time our lawmakers don't forget about their constituents living abroad.
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