US President Joe Biden tweeted a message on December 31, 2022, praising the achievements of his administration. However, those anticipating that more stimulus money would be added to the bank accounts in 2023 may be particularly interested in the first portion of the president’s tweet.
Build Back Better
The first half of the president’s message makes it apparent that there is still more on his initiative, even if his tweet was upbeat and encouraging about all the measures implemented to assist individuals and families.
Even though he did not go into further detail in his tweet, he was likely alluding to some of his unmet priorities covered under the Build Back Better act that was put up throughout the first half of his administration but did not pass.
Our Administration's historic accomplishments in 2022 proved that there's not a single thing America cannot do when we do it together.
Let's keep it going.
— President Biden (@POTUS) December 30, 2022
The expansion of the Child Tax Credit was one of many measures of Build Back Better, but it was also one of the most significant.
This year, companies who choose to build clean construction projects — like solar and wind — right here in America will start receiving tax credits, helping to create thousands of good-paying jobs in our clean energy economy.
— President Biden (@POTUS) January 3, 2023
Stimulus Check 2023
Parents may receive extra stimulus money in 2023 if Biden persists in advocating for the enlarged Child Tax Credit and if some Republicans join him.
Fewer people received direct payments from the enhanced Child Tax Credit than from various stimulus packages. However, parents got a lot of help. The American Rescue Plan Act provided parents $3,600 for children under the age of six and $3,000 for those between the ages of six and seventeen.
Happy New Year, folks.
I think it’s going to be a great year.
Why? Because we get to start implementing a lot of the things we passed last year.
Here are some things that are kicking in at this very moment ⬇️
And hey — you can bookmark it if you’re out celebrating.
— President Biden (@POTUS) January 1, 2023
The credit was entirely refundable, with half of the funds being transferred into savings accounts throughout the year and the remaining funds being claimed when tax returns were filed.
There is no assurance that the credit will be increased this year; in fact, it will likely face an uphill battle given that Republicans will soon be in charge of Congress and that the right-wing have different notions about how the credit should operate. Nevertheless, Biden’s admission that more has to be done to support families should give people expecting this kind of stimulus aid hope, reports The Motley Fool.
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