$4,000 of payment could come for millions of California residents

Alissa Rose

Payment of $4,000 could come for millions of California residents because surging prices for food, gas, and housing continue to take a financial toll on Californians and their wallets.

The lowest-income families in California have experienced an overall price increase of 9.6% and severe problems due to rising costs for a wide range of consumer products.

Californians struggle a lot compared to others, and in this challenging time, this payment could be a lifesaver and get them some relief.

According to the U.S. Bureau of Labor Statistics, rising inflation causes residents of Californians to pay more for their daily expenses, such as groceries are 7.4% higher, and other necessities are 12.8% higher.

In California, the Consumer Price Index for All Urban Consumers increased by 4.9% compared to the previous year, which is higher than economists' prediction.

However, in California, more than 50% of the family in this state are now struggling to pay their usual household expenses.

What are the details?

This new plan is called the Family Security Act 2.0, and it was introduced by Senators Mitt Romney (R-UT), Richard Burr (R-NC), and Steve Daines (R-MT).

According to this newly proposed plan, 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 40.22 million, only 31.42% of California residents do not have a family, which means 68.58% 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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