Disclaimer: This article is for informational and educational purposes only.
Stimulus payments worth $3000 per kid (up to 6) could hit Florida parents' bank accounts. This payment is coming at a time when inflation in the state is surging daily.
In June, inflation in Florida hit 10.6%, which is badly affecting residents' financial backbones. As a result, Florida residents had to pay more for daily goods such as gas, food, rent, and other grocery items.
How helpful it would be if Florida got $3000 per kid (up to 6) from the government in this challenging time.
The new proposed plan has exactly this in their bill. This plan was proposed by United States Senators Mitt Romney (R-UT), Richard Burr (R-NC), and Steve Daines (R-MT).
The Family Security Act 2.0 (proposed plan) states that U.S. residents could get $3,000 for each kid aged 6 to 17, or a monthly benefit of $250. Parents could claim this benefit for up to six of their kids annually.
According to the U.S. Census Bureau, Population Estimates Program (PEP) and American Community Survey (ACS), nearly 19.7%.
And the above pie chart shows more than 3.2 million households have more than 2 members in their family. Hence, millions of Florida residents could claim benefits from this plan.
Eligibility for the Family Security Act 2.0
If parents want to benefit from this Family Security Act 2.0 plan, they must fulfil some eligibility criteria.
1.) The proposed plan has a wide income range from $200,000 to $400,000 annually. For single filers, your annual must be $200,000, and for joint filers, it should be $400,000.
2.) The plan's only disadvantage is that annual income cannot be less than $10,000. If the yearly family income is less than $10,000, they will get a benefit proportional to their annual income.
e.g., If a parent's income is $6,000, then they would get $1,800, which is 60% of their $3,000 benefit because they earned 60% of the $10,000 earnings target.
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