January 21, 2022

Fourth Stimulus Check Live Updates: $8,000, Child Tax Credit, $200 Social Security, COLA 2022…

What is Mitt Romney’s Child Tax Credit Proposal?

The People’s Policy Project has released a new article stating that the Child Tax Credit Mitt Romney’s proposal is an improvement over Biden’s plan. The Romney CTC would go to the poorest children, is larger over the child’s life and could overcome some logistical hurdles in distributing payments, as the responsibility would fall with the Social Security Administration, rather than the IRS.

Romney made this proposal back in February 2020, but eventually another version was added to the US bailout plan. After negotiations on the Build Back Better bill failed, Romney renewed his bid to get his credit as a standalone bill in law. Researcher Matt Bruenig also noted that Romney’s credit would start making payments while women are at least four months pregnant, meaning the proposal includes a maternity allowance that could help families prepare for the arrival of their child. .

“In the four months before birth, the Romney plan pays parents $350 a month, for a total of $1,400. The current CTC does not give money prior to birth and does not provide the first cash payout until the year after a child is born,” Bruenig writes.

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