- Mar 14, 2019
- Reaction score
- Ft. Lauderdale
Sen. Mitt Romney (R-Utah) on Thursday unveiled a proposal to provide monthly payments to families with children.
The proposal comes as many Democrats have similarly expressed interest in providing payments to families with children on a monthly basis.
"This proposal offers a path toward greater security for America’s families by consolidating the many complicated programs to create a monthly cash benefit for them, without adding to the deficit,” Romney said in a news release.
Under Romney's proposal, the existing child tax credit would be replaced with monthly payments of $350 for children ages 5 and under and $250 for children ages 6 to 17. Families would be capped at monthly payments of $1,250.
The payment amounts phase out for single tax filers with income above $200,000 and married couples with income above $400,000 — the same income phaseout thresholds for the current child tax credit. The Social Security Administration would administer the monthly payments, and people would reconcile any overpayments or underpayments with the IRS when they filed their tax returns.
Romney would offset the cost of his proposal by eliminating some federal programs that he argues would be duplicative with his child allowance, including the head-of-household filing status, the child and dependent care tax credit and temporary assistance for needy families.
Interesting proposal. Sort of a UBI, but for kids. Obviously it would be a small amount, but maybe better to dole it out little by little vs all at the end of a tax year?
That would be a $6000 yearly payment for younger kids and a $3000 yearly payment for older kids.
I guess the question is this.. is it better to put money in the hands of people, or allow free access to certain services and aid? like, is he talking about eliminating SNAP? They money may help, but it doesn't address the problem of some urban areas not having close access to a proper grocery store. It also still has what were old concerns about food stamps, of people trading them for drugs and all that. I'm sure the 'drug' issue is very small. But, there is an argument about if money in the public's hands is a good as coordinated usage.
i.e. we'd never have roads if we just let everyone do what they will with their own money. Not sure if this specific issue falls under that concept, but it's within the realm of discussion, I'd think.
As usual, I'm not tied to this idea too tightly, but I think the idea of a monthly automatic payment that doesn't require tax filing (which means, often requires you to hire someone to help you get your money back), would be a good thing.