As we all know, residents of the United States are already facing so much financial trouble because of the high inflation. For example, gas and food prices are still rising compared to the previous year. Therefore, due to the cost of living crisis, millions of eligible residents in the United States will receive a stimulus check of $4000.
This new plan is introduced by United States Senators Mitt Romney (R-UT), Richard Burr (R-NC), and Steve Daines (R-MT); this plan is known as the Family Security Act 2.0.
According to this new proposed plan, most parents with children under the age of 5 would get a $350 direct payment each month (more than $4,000 annually).
While parents with children aged 6 to 17 would receive a $250 payment ($3,000 annually).
In addition, parents are eligible to apply for the benefit four months before an unborn child's due date with monthly payments of $700 and a maximum amount of $2,800 during pregnancy.
Families may claim benefits for up to six children annually and choose whether to receive the benefits annually or monthly.
On Wednesday, Senator Mitt Romney said, "We must do better to help families meet the challenges they face as they take on the most important work any of us will ever do raising our society's children. This proposal proves we can accomplish this without adding to the deficit or creating another new federal program without any reforms."
Who is eligible for the Family Security Act 2.0?
According to this program, the monthly payment scheme would start phasing out for individuals earning $200,000 and couples making $400,000.
What do you think about this new proposed plan? Give your valuable opinion in the comment section, and if you think more people should read this article, share it on social media and with your friends and family.
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Disclaimer: This article is for informational and educational purposes only.