The January child tax credits may be delayed
if Congress fails to pass the social policy
bill before the end of the year.
The Build Back Better Act is expected to come
to the floor this week for a vote.
Included in the bill is a one year extension, the
child tax credit, which otherwise would expire in 2021.
This credit gives up to $3,000 per child ages
6 through 17 and up to $3,600 per child
ages five and under delivered in monthly payments.
Families earning less than $150,000 a year if
married, filing jointly, $112,500 if filing as head
of household or $75,000 as a single filer
are all eligible, with incomes above those amounts
being phased out in several stages.
The IRS announced recently that Senate Democrats must pass
an extension by December 28 if they want to
avoid a disruption in the child tax credit payments.
If Congress doesn't take additional action, the IRS will
make its last payment to filers on December 15.
Democrats are using the budget reconciliation process
to pass the social spending bill, meaning
that they need a simple majority bypassing
the potential Republican filibuster.
The bill will require every Senate
Democrat's support as the Chamber is
equally divided between Democrats and Republicans.
Next, California's $15 minimum wage increase goes
into effect January 1, 2022 for employers
with 25 or more employees.
But now a Los Angeles investor is
gathering signatures for an $18 an hour
minimum wage increase balance measure in 2022.
Los Angeles investor Joe Sandberg filed the Living Wage
Act of 2022 with the state attorney General's office.
Sandberg has stated that he will sponsor the costs
associated with the signature collection for the act.
If passed, the act would raise the state's minimum
wage incrementally, beginning in $2023 to $18 an hour.
By 2026.
California state minimum wage has
increased incrementally since 2016.
Senate Bill three, which set a schedule for incremental
increases up to $15 an hour in 2022.
Employers with fewer than 25 employees have until
2023 to meet this $15 an hour threshold.
There are local exceptions for cities who
have set a higher minimum wage within
city limits that are already in effect.
California joins 25 other States in
implementing minimum wage increases in 2022.
California's minimum wage is currently the second
highest in the nation behind Washington, DC.
However, due to California's extremely high cost of living,
the minimum wage amount does not, in most low
earner instances, cover a basic living wage.
Next, Governor Newsom has directed his staff to
begin working on drafting a gun control bill
that would model the legal framework in that
of Texas Senate Bill eight, which was recently
allowed to remain by the Supreme Court.
The heartbeat bill banning abortion after six
weeks circumvents the prior constitutional protections covered
under the Supreme Court Roe vs.
Wade abortion decision.
The Texas law, which went into effect in
September, bans most abortions after six weeks.
This law is enforced by private citizens
through lawsuits filed against health care providers
performing the abortions rather than being enforced
by the state itself.
In his statement on Saturday, Governor Newsom
referenced a recent federal court decision which
overturned the state's ban on assault rifles.
Under Newsom's proposal, private citizens could sue to
stop the manufacturer sale or distribution of assault
weapons or ghost gun kits or parts.
Plaintiffs in successful cases could receive damages
of at least $10,000 per violation plus
court costs and attorneys fees.
Next, California Housing Finance Agency, Cal.
HFA has announced the ADU Grant Program.
The Accessory Dwelling Unit Grant Program will create
more housing units in California by providing a
grant of up to $25,000 to reimburse predevelopment
costs associated with the construction of the Adu.
In order to see if you were eligible,
an eligibility calculator is available at calfha.ca.gov
Gov Eligible applicants will have an income that is
less than 80% of the area median income or
less than the Call HFA income limit.
In order to apply, you will need paid
Stubs Bank statements, history or previous tax returns.
Application instructions as well as the
eligibility calculator are both linked in
the video description down below.