The Motley Fool: Low-Income Americans Will Get an Average of $3,590 in Stimulus Money in 2021

According to the Institute on Taxation and Economic Policy, the lowest-earning Americans will receive more financial relief this year than some of their higher-earning counterparts.

Specifically, those who have a household income of $21,300 or less will get an average of $3,590 in stimulus money and tax credits this year. On average, this includes:

• $2,210 from stimulus checks: direct payments deposited into people’s bank accounts or sent via check or debit card
• $1,060 in expanded Child Tax Credits: $250 or $300 delivered per child from July to December of 2021 and available when claiming 2021 taxes
• $320 from the Earned Income Tax Credit: expanded for childless workers and available when filing 2021 tax returns

These funds mean that some of the lowest-earning Americans will see their household incomes increase by almost 33% in 2021. Read more

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