HomePersonal FinanceParents May Receive Hundreds of Dollars from New Bill

Parents May Receive Hundreds of Dollars from New Bill

The United States is experiencing the highest inflation rate in 40 years, rising to 7.9%, while the conflict in Russia and Ukraine exacerbates the situation.

According to AAA, gas prices have increased to $5.80 in some states of the United States.

If hundreds of dollars came into your bank account every month at this critical time, it would be unimaginable.

Nonetheless, Senator Mitt Romney has proposed that ‘unimaginable’ support in the new Family Security Act, which he introduced.

According to this plan, American families would receive a cash allowance of $350 per child under six and $250 per child between six and seventeen years old.

As part of this proposal, qualified families will receive a monthly child benefit, which appears similar but is quite different from the Democrat-led Child Tax Credit because this bill is not an extension of the tax credit program.

Eligibility for the Family Security Act

With this plan, income brackets are widened, and the allowance starts at $200,000 for single filers and doubles for joint filers, which is $400,000.

The only disadvantage of this plan is the maximum benefit of $1,250 per family per month. Families with more children will not be able to claim an allowance for each child.

Using this plan, Mitt Romney believes that child poverty in America can be decreased dramatically.

NATE GARTRELL
NATE GARTRELLhttps://theeastcountygazette.com/
NATE GARTRELL is an author at TheEastCountyGazette.com, a publication in the East County region of San Diego County. He has been writing for the Gazette since 2012 and writes on many different topics including politics, business, health care and more.
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