Senator Mitt Romney (R-Utah) proposes to restore monthly stimulus payments of up to $1,250 to low-income families with children.
Romney presented the Family Security Act, which, like the Child Tax Credit, would provide monthly payments of $350 to families with children under the age of five and $250 to households with children aged six to seventeen.
Expectant parents would also qualify for benefits up to four months ahead to the due date of the kid.
“The proposal would instantly lift almost three million children out of poverty while offering a path to the middle class – all without increasing the government budget by a dollar,” Romney stated.
President Joe Biden signed the Child Tax Credit into law as part of the $1.9 trillion American Rescue Plan, which was created to assist the United States in recovering from the coronavirus (COVID-19) epidemic.
Around 36 million eligible American families got financial assistance through the Child Tax Credit, which was paid on a monthly basis between July and December 2021. Families got up to $300 for each kid under the age of six and up to $250 for each child from six to seventeen.
There have been various petitions for further stimulus checks similar to those granted in 2020, but Congress has stated that it has no intention of releasing additional checks, and President Joe Biden’s proposal to extend the Child Tax Credit until 2022 failed to pass the Senate.
According to a poll performed by the United States Census Bureau, families throughout the country are having difficulty paying for regular household costs after the Child Tax Credit payments terminated in December.
“American families are under increased financial hardship, which has been exacerbated by the COVID-19 epidemic, and marriage and birth rates are at an all-time low,” Romney stated. “Additionally, our family assistance system has not been properly overhauled in nearly three decades, and our shifting economy has left millions of families behind.”
Romney stated that his proposal would reduce child poverty by up to one-third across the country, would support families from conception to childhood, would ensure equal treatment for working and stay-at-home parents, and would reform and consolidate outdated federal programmes to fully fund the Family Security Act.
“Now is the moment to reaffirm our commitment to families and to assisting them in overcoming the obstacles they confront as they undertake the most important task any of us will ever do – raising our society’s children. This approach provides a way to greater security for America’s families by merging several complicated programmes into a single monthly cash payment, without increasing the debt,” Romney stated.