Do you live in Oregon and are a struggling parent? Here’s some uplifting news: You could soon receive $3,600 for each of your kids. In his budget plan for 2024, Vice President Joe Biden proposes bringing back the entire Child Tax Credit that was first implemented as part of the American Rescue Plan in 2021.
A video explaining the modifications to the child tax credit in 2023 may be seen below.
What it implies for you is explained below if you have a kid younger than seventeen. The 2024 budget proposes increasing the current credit from $2,000 to $3,000 for children aged six and above and from $3,600 to $4,200 for those under six.
Before this change, parents received monthly payments from July through December of 2021, of which they may deduct 50% in 2022. The president had hoped that this financial aid would be sustained over time. In the past, the IRS would deposit these funds directly into the bank accounts of qualifying individuals.
The following is the latest current information about events at Oregon State:
- Tax Rebates for Oregon Residents May Be Worth Up to $42,000.
- Oregon Authorities Requested That Utilities Cut Electricity Lines to Prevent Wildfires in 2020.
Biden’s Proposed New Budget Funding
According to the White House, more taxes on corporations would be used to pay for this item. This proposal would raise the corporation tax rate from 21% to 28%. The proposed new budget would also increase the capital gains tax paid by investors to 39.6 percent for those making over $1 million, and it would double the stock repurchase tax approved as part of the IRA.
How would this affect households in Oregon? Is it a good idea to bring back this child tax benefit, as proposed by the Biden administration? In the comments, I welcome your feedback.
1 thought on “Each Child in Oregon Might Get a Yearly Stimulus of $3,600”
This stimulus would stabilize our family. For the first time since 2021, if my children out screw their shoes, I could buy new ones. If the landlord increase the rent, I could pay it without worrying about whether we were going to have power that month or eat. I could afford car repairs as I ride share in the family car because I cannot hold a standard 9 to 5 job due to discrimination. Also, I could afford repairs as they happen and do not have to worry about my family’s safety in our family car. For the first time in the children’s entire lives, we may not be the subject of crushing discrimination due to my single mother status as it is perceived that global viewpoints would change if people knew we always had money. My children could attend sports at school. My children could attend enrichment programs online. My children would be viewed more like future shareholders of a Nation as opposed to simply a statistic.
In a world run by the commerce of money, this is what a monthly child stimulus not only does for the children and families, but eventually, for the entire nation.