$400 a month in aid to millions of Americans. Check if you are applying

To be sure, in the midst of current inflation, you could use the $400 a month in cash handouts that Joe Biden's Democratic government has just promised as credit and relief to millions of Americans across the country.

Given the escalation of prices in the American real estate sector, President Joe Biden this week unveiled a proposal that seeks to provide monthly assistance of up to $400 to a broad base of taxpayers.

As part of his recent State of the Union address, the president unveiled this tax incentive as part of his strategy ahead of the November election, in which he will once again face Donald Trump, the country's former president who appears to be taking the lead. In this race for the White House seat.

This initiative comes within a set of mortgage assistance measures, which aim to provide economic support to some middle-class families in the United States who aspire to obtain their first home this year. If that's your goal, this $400 monthly assistance can help.

Who can aspire to receive $400 monthly assistance in the United States?

President Biden noted, according to Reports Local residents said they would be given a $10,000 credit, which would be delivered in monthly installments of $400 per month as assistance for two years. The main objective of this credit is to reduce the mortgage interest rate, thus benefiting 3.5 million families.

This measure is important, given that the current mortgage rate is the highest recorded in the past two decades, and this will come as a huge relief to families who are already burdened with debt.

In addition to this benefit, Biden has proposed an initiative that would provide up to a $25,000 down payment to families buying their first home.

As of now, the specific details about these two credit proposals are unknown, and we are awaiting a statement from Congress to see if they will receive their support and the final ratification of this assistance, which is the $400 first home purchase.