CNBC: Stimulus Checks and Expanded Tax Credits
media mentionBetween stimulus checks and expanded tax credits in the latest Covid-relief package, most U.S. households are poised to get some extra cash.
The amount? An average of $3,450 for the bottom 60% of earners ($65,000 or less), according to research from the Institute on Taxation and Economic Policy. The number reflects direct stimulus payments and expansions of both the child tax credit and the earned income tax credit.
“The people you’d think need the help are going to get it,” said Steve Wamhoff, director of federal tax policy for the institute.