Millions of Americans face the scourge of rising inflation coupled with surging fuel prices –courtesy war in Ukraine. However, there is a ray of hope –A proposal by Sen. Mitt Romney which could lead to the start of monthly payments for millions of Americans. Officially christened Family Security Act, Romney’s plan will benefit millions of recipients’.
The latest proposals envisage monthly aid of $350 for families with children ages 0-5 and $250 per month for those with children aged 6-17. The maximum limit is $1250, and expectant couples can start accruing the benefits four months before their child’s birth.
Proposal Much Akin To the 2021 President Joe Biden’s American Rescue Plan
This payment which is being proposed is much akin to the 2021 President Joe Biden’s American Rescue Plan. The plan envisaged $300 per child per month from July to December. The remaining half will be payable through a tax credit this year. There was a demand for the payments to continue since the pandemic was still on. However, Congress failed to approve the continuation of the project, citing the move to cause inflation. The efforts to give additional stimulus aid beyond December 2021 hit a dead end.
In a statement, Romney said his act “creates a new national commitment to American families by modernizing and streamlining antiquated federal policies. If enacted, low-income families would no longer have to choose between a bigger paycheck and eligibility for support. This plan would immediately lift nearly three million children out of poverty while providing a bridge to the middle class – without adding a dime to the federal deficit,”
A considerable controversy going hand in hand with Romney’s plan is the inclusion of work requirements for payment recipients.
The nitty-gritty of the requirements has not been revealed in the plan. However, the standard benchmark for any state-level aid is at least 80 hours of work in a month or an equivalent amount of job training or volunteer work, al.com/news/ reported. Romney’s staff has been tight-lipped about the plan and has only revealed that his formally introduced plan is subject to negotiation and is not finalized.