Parents May Soon Be Getting A $1,250 Stimulus Check. Here's What We Know.

People everywhere are struggling right now. Between high costs of living, inflation and just everything going on in the world, things have gotten far more expensive.

As you may know, last year, the Child Tax Credit was given to parents who were eligible to receive up to $300 per child from July – December 2021.

Since that time, many have wondered if that child tax credit was ever going to be extended and it looks like there is talk about that very thing happening.

Republican Senator Mitt Romney of Utah introduced the Family Security Act, which is very similar to the Child Tax Credit.

It has one exception though – it actually proposes more money is sent out.

If approved, eligible families would receive $350 a month for each child they have under the age of five, and $250 for each kid aged six to 17. The max allowed per family each month would be $1,250.

Eligible families would include a single tax-filer making up to $200,000 and every household with joint-filers who have children and make a combined $400,000.

Sen. @MittRomney’s Family Security Act would send a monthly cash benefit of $250 for every school-aged child in America and $350 for every younger child to families earning up to $400,000 a year. Don’t miss his conversation with Stephen on this episode: https://t.co/8bxFMQ1Cn5
— Freakonomics (@Freakonomics) February 22, 2022

It will go out to those earning more as well, but will be reduced by $50 for every $1,000 above those thresholds a family makes.

According to the drafted act, benefits of this new proposal would include:

Establishing a firm national commitment to all of America’s families;
Cutting child poverty by up to one-third in America;
Supporting families from pregnancy through childhood;
Promoting marriage;
Providing equal treatment for both working and stay-at-home parents; and
Reforming and consolidating outmoded federal programs, including by fully paying for the new proposal.

What is the catch you may ask?

Well, under the act, people who receive this benefit must work, volunteer or train for at least 80 hours a month.

Apparently, members from both parties are in favor of providing assistance to families but having a work requirement is something that is currently being negotiated.

If this is agreed upon soon, families could once again see monthly checks, even parents who are currently expecting. The benefit would allow parents to file for benefits up to four months before their newborn’s due date.