Families would receive thousands per year with new stimulus program

Jake Wells

cash in hand fanned outPhoto by Alexander Mils (Unsplash)

If you're struggling financially right now in California, here's some good news for you.

U.S. Senators Mitt Romney, Richard Burr, and Steve Daines recently announced the Family Security Act 2.0. This is an updated version of Romney’s original Family Security Act. Romney, the creator of this proposal, says the goal of this act is to create a new national commitment to American families.

This program would give cash to working families starting during pregnancy, amounting to $350 a month for each child aged five and under. For children aged six to seventeen years old, eligible parents would receive $250 a month for each qualifying child.

Currently in San Francisco, the estimated monthly costs are 4,784.43 without rent. Rent for a three-bedroom apartment averages $4,146 per month. This proposal could make a real difference for families by helping cover the cost of groceries, utilities, rent, and other expenses.

According to the Niskanen Center, a group that studies public policy, "the Romney-Burr-Daines plan offers an innovative way forward by addressing concerns about the potential impact of our family security system on work, marriage, and poverty."

A quick example of this proposal in action

Under this version of the Family Security Act, married couples would receive a significant boost of income. For example, let's look at married couple with two children, ages four and nine. If this family earns a combined income of $38,990. They would currently receive $2,318. Under the Family Security Act 2.0, they would receive $9,359, which is an increase of $7,041. Best of all, it would not be a lump sum payment but rather come as monthly payments.

What do you think about this proposal? Do you think this proposal would help families?

Would you support it? Why or why not? I'd love to hear your thoughts. Please let me know in the comments.

Disclaimer: Please note that this article is only for educational and informational purposes.

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