As we all know, soaring prices on every item, such as gas prices, grocery prices, and high inflation, put lots of financial pressure on the residents of Ohio, so to help families in this challenging time, millions of Ohio residents could receive payment of $4,000.
According to the U.S. Bureau of Labor Statistics, rising inflation causes residents of Ohio to pay more for their daily expenses, such as groceries at 12.7% higher, housing costs being 7.6% higher, and other basic necessities prices are also increasing.
In Ohio, the Consumer Price Index for All Urban Consumers increased by 8.1% compared to the previous year.
What are the details?
This new plan is known as the Family Security Act 2.0, and it was introduced by United States Senators Mitt Romney (R-UT), Richard Burr (R-NC), and Steve Daines (R-MT).
Most parents with children under five would get a $350 direct monthly payment (more than $4,000 yearly) under this newly proposed plan.
Families may claim benefits for up to six children annually and choose whether to receive the benefits annually or monthly.
In the approximate population of 11.74 million, only 37.4% of Ohio residents do not have a family, which means 62.6% of the population would be eligible for benefits under this program if they had children.
Who is eligible for the Family Security Act 2.0?
- As per this proposed plan, your yearly income must be $200,000 for single taxpayers and $400,000 for joint filers.
- However, the family's annual income must be at least $10,000 to qualify for this plan. If the family's yearly income is less than $10,000, they will get a benefit based on that amount.
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.
Disclaimer: This article is for informational and educational purposes only.
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