The final child tax credit payment of 2021 hits accounts this week.<\/b>
\nby: Talia Naquin, Nexstar Media Wire ( WJW) \u2013 The final child tax credit payment of 2021 hits accounts this week. As it stands right now, payments will not continue into 2022. However, if the Build Back Better act passes the Senate, it would extend the child tax credits for direct payments in 2022. The House approved an initial version last month. The Biden administration wants the bill approved before Christmas so families can plan on that money in the new year. \u201cOur view is that the Child Tax Credit is a really basic, important support for families and we should extend it because it\u2019s doing what we hoped it would do,\u201d Brian Deese, director of the National Economic Council said in a Newsweek article last week. The potential to pass the 10-year $2 trillion package took a hit Friday when the government announced that inflation pushed prices up last month at an annual rate of 6.9%, the highest in 39 years. Senate Majority Leader Chuck Schumer, D-N.Y., has not said when he\u2019ll call a vote. Here\u2019s what\u2019s in the bill as it stands now: \u2014 Eligible workers would receive up to four weeks of paid leave to reimburse them for time taken to care for a new child or other family members or to recover from illness. Biden had initially proposed 12 weeks of paid family leave. \u2014 Federal subsidies would ensure that parents earning up to 250% of a state\u2019s median income would pay no more than 7% of their income on child care. Parents must be working, seeking a job, in school or dealing with a health issue to qualify. \u2014 Universal pre-kindergarten would be established for all 3- and 4-year-olds and child-care subsidies would be provided for poorer and middle-income Americans. But the programs are funded only for six years. \u2014 $40 billion would be provided for higher education and workforce development. This includes raising the size of Pell Grants and providing funding for historically Black colleges and universities as well as institutions that largely serve Hispanic students or tribal communities. \u2014 Clean energy tax credits would receive $320 billion worth of funding. These credits over 10 years would help businesses and homeowners shift to renewable energy sources for electricity, vehicles and manufacturing. \u2014 $105 billion would be spent to improve communities\u2019 ability to withstand extreme weather events, which have been worsened by climate change. The funding would also create a Civilian Climate Corps that focuses on conserving public lands and bolstering community resilience to flooding, drought and other weather emergencies. \u2014 $110 billion would help develop new domestic supply chains and develop new solar and battery technologies. Support would also be given to existing steel, cement and aluminum industries. \u2014 Medicare would be expanded to cover hearing aids, costing an estimated $35 billion over 10 years. \u2014 Out-of-pocket Medicare Part D costs for older Americans would be capped at $2,000 per year and the price of insulin reduced to no more than $35 a dose. \u2014 A Medicare drug negotiation program would be established. Each year, the secretary of Health and Human Services would identify 100 brand-name drugs that lack price competition and from that list negotiate the price of up to 10 drugs in 2025,15 in 2026 and 2027, and 20 thereafter. \u2014 Expanded tax credits to help cover insurance premiums under the Affordable Care Act would be extended through 2025. The White House says that would help 3 million uninsured people gain coverage. \u2014 $150 billion would be given to a Medicaid program that supports home health care, helping to clear a backlog and improving working conditions. \u2014 $90 billion would go toward investments that would include funding maternal health, community violence initiatives, disadvantaged farmers, nutrition and pandemic preparation. \u2014 $150 billion would be committed toward housing affordability with a goal of building more than 1 million new rental and single-family homes. The goal would be to reduce price pressures by providing rental and down payment assistance. \u2014 An expanded child tax credit would continue for another year. As part of a COVID relief bill, Democrats increased the tax credit to $3,000 per child ages 6-17 and $3,600 per child 5 and under. Households earning up to $150,000 per year get the credit paid to them on a monthly basis. \u2014 The expanded Earned Income Tax Credit that goes to 17 million childless, low-wage workers would continue for one year. \u2014 Biden\u2019s plan bolsters the IRS to improve collections and close the gap between taxes owed and taxes paid. \u2014 A 15% minimum income tax would be applied to large corporations. The U.S. would also be aligned with an agreement reached by more than 100 countries designed to deter multinational companies from stashing profits in low-tax countries. \u2014 The bill would create a new surtax on multimillionaires and billionaires and close a provision that allows some wealthy taxpayers to avoid paying the 3.8% Medicare tax on their earnings. \u2014 A $10,000 cap on state and local tax deductions would be raised to $80,000. Tax analysts say the change would largely benefit high-income households. \u2014 A 1% surcharge would be imposed on corporate stock buybacks, which Democrats said are often used by corporate executives to boost their finances rather than investing in the business and its workers. \u2014 Those who entered the United States prior to Jan.2,2011, and have continuously resided there since would be eligible for renewable parole grants for five years after paying an administrative fee and completing security and background checks. The parole status gives recipients authorization to travel and work in the U.S. and deems them eligible for a Real ID-compliant driver\u2019s license or a state identification card. The Associated Press contributed to this report. ASHEBORO, N.C. (WGHP) — A pretty big new arrival has come to the North Carolina Zoo! The North Carolina Zoo announced the arrival of its newest resident \u2013 a 740-pound male grizzly bear named Ronan on Dec.13. NEW HAVEN, Conn. (StudyFinds.org) – The emergence of the Omicron variant has left scientists scrambling to determine just how much protection current COVID-19 vaccines provide against the new strain. Interesting new research by a team at Yale University, however, finds an entirely new form of vaccination may soon be on the way. The research finds nasal vaccinations may be a useful way of providing further coronavirus protection. Experiments showed that intranasal vaccination successfully sparked broad-based protection against respiratory viruses coming from different organisms among a group of mice. Meanwhile, a syringe-based vaccination (the standard shots) failed to recreate the same robust protection. HOUSTON (KIAH) — Christmas is just around the corner. This means it\u2019s time to start shipping gifts to your loved ones if you haven’t already. The U.S. Postal Service and UPS say they are confident that anything you want to send will get to its destination by Christmas \u2013 as long as you meet the deadlines.<\/p>\n