With inflation on the rise, wouldn't a few hundred dollars more per month—even thousands more per year—make a big difference? That's exactly what Senators Mitt Romney, Richard Burr, and Steve Daines think the American public needs right now. These senators recently announced the Family Security Act 2.0. Under this program, the parents of each child ages five and under would receive $350 a month. In addition, parents would receive $250 for each child ages six to seventeen years old.
Currently in St Louis, the estimated monthly costs are $3,271 without rent. Rent for a three-bedroom apartment averages $1,725. With average costs of over $5,000 per month in St. Louis, that means that many families are struggling right now. The Family Security Act 2.0 would likely help many of these families in St. Louis.
“American families have faced unprecedented difficulties– from a global pandemic to widespread school closures to historic inflation,” Senator Burr
How this stimulus program works
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 three and nine. If this family earns a combined income of $38,990 (just two $204 less than to the average income in St. Louis of $3,454 per year) With the Family Security Act 2.0, this same family would receive $9,359, which is an increase of $7,041 over what they would currently receive. Best of all, the money would not be a lump sum payment but rather come as monthly payments as monthly payments of $586 per month.
What do you think about this proposal? Do you think this proposal would help families?
Please let me know in the comments.
Disclaimer: Please note that this article is only for educational and informational purposes.