Some families might receive up to $350 in monthly payments under a new stimulus proposal from Sen. Mitt Romney, R-Utah, who wants to revive the higher child tax credits beginning in 2021.
However, there will be a catch: individuals who accept the money will be forced to fulfill employment responsibilities.
Romney’s team stated in a statement that his proposal has not yet been made public and is still being negotiated with both parties before being enacted.
Here’s everything you need to know about the new concept.
Romney’s “Family Security Act” proposal
Under Romney’s Family Security Act, families with children under the age of five would get $350, while families with children aged six to seventeen would receive $250.
Under the bill’s terms, expectant parents would be permitted to start collecting compensation four months before their child’s due date.
Families would be able to pay up to $1,250 per month in installments.
The “Family Security Act” has requirements that must be adhered to.
Furthermore, Romney’s plan asks for payments to be phased in over time and depending on income restrictions.
For example, if a single tax filer makes more than $200,000, or if a married couple earns more than $400,000 together, $50 will be deducted from monthly payments for every $1,000 earned more than their monthly income limits.
The job’s requirements are as follows:
Work requirements, which were a contentious part of Romney’s program, are included in the plan as well.
NBC News reports that, regardless of the specifics of his proposal, most states with work requirement programs require assistance claimants to work, volunteer, or acquire an equal level of job training for 80 hours each month.
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