Millions of People Are Expected to Receive a $1,250 Stimulus Check in the Near Future.

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Last year, the Child Tax Credit was expanded, resulting in eligible families receiving monthly checks of up to $300. However, it was not extended beyond 2022, which means that many people who are financially struggling have not received a check since December. That may soon change, as a new legislature is being drafted.

Senator Mitt Romney of Utah, a Republican, introduced the Family Security Act, which is very similar to the Child Tax Credit but proposes a larger distribution of funds. Families will receive $350 per month for each child under the age of five and $250 for each child aged six to seventeen. Each family is allowed a maximum of $1,250 per month.

 

Stimulus Check

 

The benefit will be paid in full to any family with a single taxpayer earning up to $200,000 and to any household with joint taxpayers earning up to $400,000. It will also be distributed to those earning more than those thresholds, but will be reduced by $50 for every $1,000 over those thresholds earned by a family.

Unlike the Child Tax Credit, the proposal is conditional on beneficiaries working, volunteering, or training for at least 80 hours per month, which is likely why it has not yet become official. While members of both parties support family assistance, the inclusion of a work requirement is a contentious issue that is currently being negotiated. Nonetheless, the White House previously stated that they wanted the Federal Child Tax Credit to remain in place for “years and years to come,” suggesting that this could be a reasonable compromise.

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If a deal is reached soon, families, including those without children, may once again receive monthly checks. The proposal allows parents to apply for benefits up to four months prior to the due date of their newborn.

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