Louisville, KY

New stimulus program would send families hundreds each month

Jake Wells

Are you tired of seeing prices continue to go up every month and your paycheck stays the same? If so, you're not alone. There is an exciting new proposal from three senators that would likely help you out called the Family Security Act 2.0. It is a new law that is being introduced by Mitt Romney, Richard Burr, and Steve Daines. In a nutshell, this program would send money to families for each child they have.

The Family Security Act would start funding families during pregnancy. $350 per month would be sent to families for each child ages five years old and under. For families with children ages six to seventeen years old, parents would receive $250 a month for each qualifying child.

It is important to note that this program is not the same as the Child Tax Credit that went into effect during 2021 under President Biden.

How much it costs to live in Louisville

Currently in Louisville, the average estimated costs each month are approximately $3,225 without rent. (source) When you take into account the cost of an average three-bedroom apartment, the cost is $1,383 per month. When you take into account the average salary in Louisville is $3,694 after taxes, it it is easy to see why so many people are struggling The average family is spending close to $1000 more each month than their average salary after taxes.

Clearly an increase of several hundred dollars each month would make a big difference in the lives of these families.

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 be aware that this article is only for educational and informational purposes.

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