Are you hoping for more government help for your family? The third and last stimulus check got sent in March 2021. New parents and other recipients with dependents may also have qualified for extra money.
But the cost of living in America has increased since then. The inflation rate in America was at a new 40-year high of 7.9% in February 2022. This rate is the highest it has been since January 1982. The national consumer price index (CPI) also rose by 6.4%.
The Family Security Act
This bill got proposed by Utah Senator Mitt Romney. It will exceed President Biden's expansion of the child tax credit proposal. And offer families more support. Romney's plan will include $350 per month for parents with children five and younger. Guardians with kids between ages 6 and 17 will receive $250 per month.
The bill also proposes simple payouts. The proposed benefit will get paid through direct payments rather than tax credits. This approach aims to make the funds more accessible to families. The plan focuses on grouping existing benefits to provide one generous monthly payment.
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