In a draft proposal, the IRS would deposit checks of $ 300 each month for a child aged 6 to 17 and $ 250 every month from age 6 to 17. This would give parents $ 3,000 a year for each child between the ages of 6 and 17. And $ 3,600 per child under 6 years of age.
Another Democratic aide said the changes would last a year, but lawmakers would insist on making them permanent.
The source also confirmed to CNN that Richard Neill, chairman of the House Weyes and Means Committee of Massachusetts, is directly involved in an effort to write an extension of the child tax credit, as well as Rosa Delauro, chairman of the House Appointments Committee of Connecticut and Reps. Suzanne Delbyen. Democrat of Washington.
The post mortem report states that eligibility for benefits similar to incentive checks will be based on family income for the prior tax year and will be phased in at a fixed income amount.
A White House official did not respond to CNN’s request for comment.
A responsible extension to a non-partisan fiscal monitoring committee would cost about $ 120 billion for a one-year extension.
The president’s proposal includes a $ 1,400 incentive check, increased unemployment, nutrition and housing assistance, as well as an extension of income tax credits earned to low-income workers, among other measures.
Biden also said the proposal would reduce poverty by a third among black families and about 40% in Hispanic households.
The US rescue plan would increase several measures in Congress’s historic $ 3 trillion coronavirus relief bill since March and $ 900 billion in legislation from December, which was scaled back to gain support from Senate Republicans.
The $ 3 trillion Heroes Act, which the House passed in May, included a similar increase in the child tax credit.
According to the Congressional Joint Taxation Committee, more than 48 million households are expected to claim child tax credits by 2020.
This story has been updated with additional details.
Katie Lobosco of CNN contributed to this report.