Payment of $4,000 could come for millions of Pennsylvania residents because surging prices for food, gas, and housing continue to squeeze the wallets of Pennsylvanians.
The low-income families in Pennsylvania have experienced a significant price increase that hurts them more and put severe pressure due to rising costs for a wide range of consumer products.
Pennsylvanians struggle a lot compared to others, and in this difficult 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 Pennsylvania to pay more for their daily expenses, such as groceries are 10.2% higher, and other necessities are 13.2% higher.
In Pennsylvania, the Consumer Price Index for All Urban Consumers increased by 6.4% compared to the previous year, which is higher than economists' prediction.
However, in Pennsylvania, 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 known as 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 13.09 million, only 36.27% of Pennsylvania residents do not have a family, which means 63.73% 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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