Utah Republican Senator Mitt Romney has proposed a fresh stimulus check by increasing the child tax credit that started in 2021. If his proposal gets through congress, eligible families could receive around $350 per month.
But there promises to be a slight variation from previous stimulus checks as citizens who want to claim the cash will have to fulfill certain job obligations.
Mitt Romney’s team has stated that the Senator’s proposal is yet to be announced publicly, and is in the processing stage. Negotiations between both parties are being implemented.
A Stimulus Check Under The New Family Security Act As Mitt Romney Sees It
Families that have children below 5 years will receive a stimulus check of $350 under the act, as suggested by Mitt Romney. For families having children in the 6 to 17 years bracket, the stimulus check comes to $250 a month.
Parents can get a maximum amount of $1,250 per month. The Act contains certain stipulations. In addition to that, Mitt Romney’s plan requires the stimulus check payment to be gradually tapered out with time, according to the income.
So, if a single filer has earnings of over $200,000, $400,000 in the case of married couples filing jointly, $50 could be deducted from monthly payments for each $1,000 that the filer earns exceeding the monthly income levels every month.
Romney said in a statement that American families are facing the worst financial strain that has been aggravated by the COVID-19 pandemic. Birth rates and marriages remain at an all-time low. His proposal will provide greater security to American families through a consolidation of the various complicated programs to create a monthly cash benefit for them, while at the same time without adding to the deficit.
But a contentious element of the proposal by Senator Romney is the requirement to hold a job. This is the prerequisite for being eligible for the scheme. Even most states have similar work requirement programs that compel the beneficiaries to volunteer, work, or obtain a similar amount worth of job training for 80 hours every month. That is independent of the specifics of Senator Romney’s proposal.