![]() ![]() People who collected unemployment in 2020 and paid tax on it are getting thousands of dollars in tax-refund checks. The same law also retroactively exempted a large chunk of unemployment benefits paid out in 2020 from federal income tax. That's similar to the monthly recurring checks that some legislators have called for. Half of that credit is coming in the form of monthly advance payments to parents beginning July 15 - $300 per month for younger kids, and $250 for older ones. Most parents and legal guardians will receive a tax credit of $3,600 for children under six, and $3,000 per child aged six through 17. Fourth stimulus check updateīiden's American Rescue Plan Act, which created the third stimulus checks, did boost tax credits for most parents with children under 18, but only for the year 2021. Rather, it's a long-term initiative to rescue, recover and rebuild the country's financial standing. That proposal doesn't include a fourth stimulus check or anything like the direct payments that millions of people received over the course of the pandemic. The most noteworthy economic effort in current legislation is President Biden's $2.25 trillion infrastructure investment proposal, the American Jobs Plan. ![]() ![]() "We'll see what members of Congress propose," Psaki added, "but those are not free." But that doesn't mean a fourth stimulus check is happening. In a press conference in June, White House Press Secretary Jen Psaki said, "The president is certainly open to a range of ideas," when asked about the lawmakers pushing President Biden for more stimulus checks. The White House has said little about a fourth stimulus check. In May, seven Democrats on the House Ways and Means Committee sent a letter to President Biden requesting that the administration add a fourth and even a fifth stimulus check to the American Families Plan announced earlier this spring. But it has not moved forward in the House of Representatives and has little chance of passing. Ilhan Omar (D-Minnesota), introduced a bill that would send $1,200 to each American making less than $75,000 per year, forever. ![]() Like the FTC on Facebook, follow us on Twitter, read our blogs, and subscribe to press releases for the latest FTC news and resources.The White House has passed back the buck, stating that the president would consider whatever Congress comes up with.Īt the end of July, Rep. You can learn more about consumer topics and file a consumer complaint online or by calling 1-877-FTC-HELP (382-4357). The Federal Trade Commission works to promote competition, and protect and educate consumers. NOTE: The Commission files a complaint when it has “reason to believe” that the named defendants are violating or are about to violate the law and it appears to the Commission that a proceeding is in the public interest. The FTC would like to thank the Florida Office of the Attorney General for its substantial assistance in this matter. District Court for the Eastern District of Louisiana. The Commission vote authorizing the staff to file the complaint was 4-0-1 with Commissioner Rebecca Kelly Slaughter not participating. The FTC’s suit asks the court to stop the defendants’ actions and to require them to provide redress to consumers. The FTC’s complaint notes that the defendants have been the subject of prior law enforcement actions in Kansas and Indiana, and that they are currently facing action from the state of Florida related to these mailers. About the FTC Show/hide About the FTC menu items.News and Events Show/hide News and Events menu items.Advice and Guidance Show/hide Advice and Guidance menu items.Competition and Consumer Protection Guidance Documents.Enforcement Show/hide Enforcement menu items. ![]()
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