With prices continuing to rise, wouldn't a few hundred dollars more per month make a big difference to you? Here's some good news. In a new proposal, senators Mitt Romney, Richard Burr, and Steve Daines want to give American families between $250-350 per month for each child. These senators recently announced the Family Security Act 2.0.
Here's how this program works. The parents of each child ages five years old and under would receive $350 each month. For parents with a child between the ages of six to seventeen years old, the parents would receive $250 each month.
Currently in Dallas, the estimated monthly costs are $3,738 without rent. Rent for a three-bedroom apartment averages $2,311. With average costs of over $6,000 per month in Dallas, that means that many families are struggling right now if they are not making close to that amount each month. This new program could really help families with rising costs.
An example of this new program in action
Let's look at a quick example of how this program helps families. In this example, assume that you are a married couple with two children, ages three and nine. If this family earns a combined income of $38,990, under 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.
Currently, this program would not pay individuals any funds if they do not have children under 18. It would not apply to retirees either.
What do you think about this proposal? Do you support it?
Please let me know in the comments.
Disclaimer: Please note that this article is only for educational and informational purposes.