New stimulus proposal would give Kentucky families hundreds each month

Jake Wells

Are you feeling like you have to stretch out every dollar as we approach this holiday season? Well,
here's some great news that will likely encourage you. A proposal has been introduced by three senators called the Family Security Act 2.0. This program, if approved and made into a law, would give American families between $250-350 per month for each child, starting upon pregnancy.

A closer look at the expenses families face in Kentucky

Let's take a look at why this is needed. Let's look at one of the biggest cities in the state: Louisville. Currently in Louisville, the average home cost is $233,000, which would mean an average mortgage of $1,100 each month, before property taxes if we assume that there is a 5.5% interest rate (source). What about other expenses? In Louisville, KY, groceries cost, on average, $150 per person per month historically according to this source. But that doesn't take into account for inflation. If you have four people and groceries are now $200 per person per month, that means your costs could easily be $800 if not more each month. That's just groceries. What about insurance, transportation, and utilities? The total can easily be more than you bring home. The average salary in Louisville is $4,226 after taxes according to Numbeo.

With the Family Security Act 2.0, this stimulus money that comes to families could make a big difference in closing this gap financially.

What do you think about this new proposal?

Feel free to share your thoughts in the comments. If you found this article informative or helpful, please share it with friends and family on social media. Thanks!

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