{"id":4818,"date":"2021-03-30T11:51:10","date_gmt":"2021-03-30T11:51:10","guid":{"rendered":"http:\/\/lonecandle.com\/?p=4818"},"modified":"2021-03-30T11:51:10","modified_gmt":"2021-03-30T11:51:10","slug":"mitt-romney-has-a-plan-to-give-parents-up-to-15000-a-year","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=4818","title":{"rendered":"Mitt Romney has a plan to give parents up to $15,000 a year"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">\n\n&#8220;In 2019, Mitt Romney made history: he became the first Senate Republican to&nbsp;<a href=\"https:\/\/www.vox.com\/future-perfect\/2019\/12\/16\/21024222\/mitt-romney-michael-bennet-basic-income-kids-child-allowance\" target=\"_blank\" rel=\"noreferrer noopener\">endorse a form of child allowance<\/a>, where all low- and middle-income parents would get a cash benefit to help raise their kids, regardless of whether or not they\u2019re able to work. At the time, the plan was modest, amounting to only $1,500 a year for kids under 6 and $1,000 for kids 6-17.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But on Thursday, Romney went even further and proposed the Family Security Act, one of the most generous child-benefit packages ever, regardless of political party. The plan completely overhauls the current child tax credit (CTC) and turns it from a once-a-year bonus to massive income support, paid out monthly by the Social Security Administration.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8230;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;Romney\u2019s plan would replace the CTC, currently worth up to $2,000 per child and restricted to parents with substantial income (it doesn\u2019t fully kick in until you reach an income of over $11,000), with a flat monthly allowance paid out to all parents:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Parents of kids ages 0 to 5 would get $350 per month, or $4,200 a year<\/li><li>Parents of kids ages 6 to 17 would get $250 per month, or $3,000 a year<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Parents with multiple kids could get a maximum of $1,250 per month or $15,000 a year; that translates to five kids between the ages of 6 and 17. Very large families would be somewhat penalized, but many families with three or four kids will get the full benefit.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8230;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;Romney\u2019s proposal would phase out for wealthy parents \u2014 the benefits begin phasing out for single filers with $200,000 and joint filers with $400,000 in annual income.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8230;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;If you\u2019re a liberal reading this and wondering if there\u2019s a catch, there is \u2014 but it\u2019s not necessarily a huge one. Romney doesn\u2019t want his plan to add to the deficit, and he wants to simplify the set of child-related benefits the government currently offers. So his plan would pay for the child allowance by eliminating a number of other programs, including some that mostly benefit the poor &#8220;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8230;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;The upside of Romney\u2019s plan being fully paid for, however, is that it would allow Congress to make the measure permanent under&nbsp;<a href=\"https:\/\/www.vox.com\/22242476\/senate-filibuster-budget-reconciliation-process\" target=\"_blank\" rel=\"noreferrer noopener\">budget reconciliation rules<\/a>, whereas the Biden proposal that relies on deficit funding is a temporary one-year measure.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8230;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;It\u2019s hard to see Romney\u2019s proposal gaining enough Republican support to get the plan above 60 votes, though I\u2019d be thrilled to be proven wrong on that front. But it could easily, with Romney, Democrats, and maybe a few other choice Republicans on board, make it into a reconciliation package.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.vox.com\/future-perfect\/22264520\/mitt-romney-checks-parents-4200\">https:\/\/www.vox.com\/future-perfect\/22264520\/mitt-romney-checks-parents-4200<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;In 2019, Mitt Romney made history: he became the first Senate Republican to endorse a form of child allowance, where all low- and middle-income parents would get a cash benefit to help raise their kids, regardless of whether or not they\u2019re able to work. At the time, the plan was modest, amounting to only $1,500 a year for kids under 6 and $1,000 for kids 6-17.<\/p>\n<p>But on Thursday, Romney went even further and proposed the Family Security Act, one of the most generous child-benefit packages ever, regardless of political party. The plan completely overhauls the current child tax credit (CTC) and turns it from a once-a-year bonus to massive income support, paid out monthly by the Social Security Administration.&#8221;<\/p>\n<p>&#8230;<\/p>\n<p>&#8220;Romney\u2019s plan would replace the CTC, currently worth up to $2,000 per child and restricted to parents with substantial income (it doesn\u2019t fully kick in until you reach an income of over $11,000), with a flat monthly allowance paid out to all parents:<\/p>\n<p>Parents of kids ages 0 to 5 would get $350 per month, or $4,200 a year<br \/>\nParents of kids ages 6 to 17 would get $250 per month, or $3,000 a year<br \/>\nParents with multiple kids could get a maximum of $1,250 per month or $15,000 a year; that translates to five kids between the ages of 6 and 17. Very large families would be somewhat penalized, but many families with three or four kids will get the full benefit.&#8221;<\/p>\n<p>&#8230;<\/p>\n<p>&#8220;Romney\u2019s proposal would phase out for wealthy parents \u2014 the benefits begin phasing out for single filers with $200,000 and joint filers with $400,000 in annual income.&#8221;<\/p>\n<p>&#8230;<\/p>\n<p>&#8220;If you\u2019re a liberal reading this and wondering if there\u2019s a catch, there is \u2014 but it\u2019s not necessarily a huge one. Romney doesn\u2019t want his plan to add to the deficit, and he wants to simplify the set of child-related benefits the government currently offers. So his plan would pay for the child allowance by eliminating a number of other programs, including some that mostly benefit the poor &#8221;<\/p>\n<p>&#8230;<\/p>\n<p>&#8220;The upside of Romney\u2019s plan being fully paid for, however, is that it would allow Congress to make the measure permanent under budget reconciliation rules, whereas the Biden proposal that relies on deficit funding is a temporary one-year measure.&#8221;<\/p>\n<p>&#8230;<\/p>\n<p>&#8220;It\u2019s hard to see Romney\u2019s proposal gaining enough Republican support to get the plan above 60 votes, though I\u2019d be thrilled to be proven wrong on that front. But it could easily, with Romney, Democrats, and maybe a few other choice Republicans on board, make it into a reconciliation package.&#8221;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[166,1236,169,1201,150],"class_list":["post-4818","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-child-poverty","tag-child-tax-credit","tag-children","tag-mitt-romney","tag-welfare"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/4818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4818"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/4818\/revisions"}],"predecessor-version":[{"id":4819,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/4818\/revisions\/4819"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}