Are you having a hard time paying all your bills right now? As prices continue to rise, are you continually feeling a financial squeeze on your wallet? If so, know that you are not alone. Currently in Utah the cost of living is at least $44,000 per year, but even that amount isn't likely sufficient with inflation. Three United States senators want to help with the Family Security Act. This is a new proposal that would give families with kids under the age of five years old $350 each month per child. For Kids, over the age of five years old, the families would receive $250 each month per child.
Senator Mitt Romney is the creator of this proposal, and he says it will help reduce child poverty significantly.
This program would replace other existing programs; it is not the same as the Child Tax care credit. This is a completely different program. The Family Security Act would be something where you make the choices for your family that you feel are the right financial move.
The Challenges With The Family Security Act
There are some challenges to this act. For starters, it doesn't do anything to support anyone who has a child over the age of 17 years old. So if your child lives at home and is 18 years old, you're just out of luck. Or if your kids don't live with you anymore, and you're like retired, there is no money coming to you each month. Those are the main challenges with the act.
What do you think about this new proposal?
Please let me know in the comments.
Disclaimer: Please note that this article is only for educational and informational purposes.