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Mitt Romney unveils plan to provide $3,000 per child, giving bipartisan support to President Biden’s effort

Turtlesoup

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Damn...Mitt want to cancel all welfare..TANF and such..and replace it with direct cash payments?


Romney’s proposal would provide $4,200 per year for every child up to the age of 6, as well as $3,000 per year for every child age 6 to 17. Senior Democrats are currently drafting legislation as part of their $1.9 trillion stimulus proposal that would provide $3,600 per year for every child up to the age of 6, as well as $3,000 for every child aged 6 to 17.
The emergence of Romney’s child benefits plan as Democrats prepare a similar effort could give the White House an opportunity to incorporate policies with bipartisan support into its relief package. Romney has said Biden’s stimulus proposal is too expensive, meaning he may vote against the broader plan even if it includes much of his new child benefits proposal.
Romney’s new plan, like the one being explored by senior Democrats, would provide the benefit monthly by depositing it directly in taxpayer bank accounts. Advocates for expanding child benefits say they will make an enormous dent in child poverty in the United States, although some conservative scholars argue the benefits may discourage parents from pursuing employment. The extent of GOP support for Romney’s proposal is unclear.

Unlike Democrats’ plan, Romney’s Family Security Act would be paid for, in part, by eliminating Temporary Assistance for Needy Families, a welfare program, as well as other existing federal tax credits for children and working families. Many Democrats are likely to oppose this part of Romney’s plan.


The major difference from Biden's plan...to Mitts--Mitt's plan pays for itself..albeit at eliminating the EIC for families--it effect, this targets the benefit to the lower income brackets.,.,.and mitt's plan is deficit neutral--it is a shift in funds..not a new expense!

The Dems want the old AND the new...I like Mitt's plan better and so do the experts.

Romney’s plan differs from Biden’s in several key ways. Romney is proposing to pay for the measure by both consolidating existing government programs and ending a policy that lets Americans deduct up to $10,000 in state and local taxes off their federal tax obligations, a move Democrats are expected to oppose, especially those representing areas with higher taxes.
If enacted, Romney’s plan would be deficit-neutral and finance the new child benefit through 2025, the Niskanen Center’s analysis found.
Biden has proposed a one-year expansion of the child benefit that would add about $120 billion to the deficit. Senior Democrats and Biden officials have said they aim to make the benefit permanent after it is potentially approved for one year in the current stimulus package.

Under Romney’s plan, the size of the benefit would also begin to diminish at above $200,000 in annual income for single tax filers, as well as $400,000 for joint filers. Democrats have not detailed income thresholds on the child tax credit expansion they are expected to unveil in days.
MORMON CHURCH must be loving this with their breeding farms.......

Its a way to steal money from taxpayers to pay back Romneys backers..

It will encourage druggies and welfare hos to have more and more kids that they can't take care financially or any other way.
 

WTH_Progs?

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You have to feel sorry for people today, consider their obstacles:

PROGS throw them bones as if they're accomplishing something. In the end they're in training to be dumb and useless.

Folks have their priorities my generation missed, such as 1000 channels of TV, they need their smart phones, the best up-to-date smart phone, 80" TV, internet access, and the best phone provider and speed you can buy.

Drugs are legal now and it's important to remain in a fog while they lock us up with political agenda & excuses.

While jobs are plentiful it's just easier to stay home or work part-time.

PROG Democrats, China, Waltons, Bezos & Gates share the same bed as they devour all resources so competition is lost.

Have to complete against China and illegals.

Have to vote Joe Biden because entitlements sound delicious on the surface. At least half of us don't think beyond the surface.
 

Jim H - VA USA

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One can hope that one of these days, the populace as a whole will wake up to the fact that government taking a large amount of our income in taxes, and then giving us a much smaller amount back as a “stimulus” leaves us poorer than if government just let us keep our own money to begin with.

It's like the cliché about government breaking your leg, and then you're supposed to be grateful when government provides you with a crutch.
Yep. Additionally only ~half the population pays federal income taxes, and those that do pay income taxes are less likely to qualify for the stimulus, as there are income limits for any payments.

It's simply more wealth redistribution, as usual.
 

Oddball

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Damn...Mitt want to cancel all welfare..TANF and such..and replace it with direct cash payments?


Romney’s proposal would provide $4,200 per year for every child up to the age of 6, as well as $3,000 per year for every child age 6 to 17. Senior Democrats are currently drafting legislation as part of their $1.9 trillion stimulus proposal that would provide $3,600 per year for every child up to the age of 6, as well as $3,000 for every child aged 6 to 17.
The emergence of Romney’s child benefits plan as Democrats prepare a similar effort could give the White House an opportunity to incorporate policies with bipartisan support into its relief package. Romney has said Biden’s stimulus proposal is too expensive, meaning he may vote against the broader plan even if it includes much of his new child benefits proposal.
Romney’s new plan, like the one being explored by senior Democrats, would provide the benefit monthly by depositing it directly in taxpayer bank accounts. Advocates for expanding child benefits say they will make an enormous dent in child poverty in the United States, although some conservative scholars argue the benefits may discourage parents from pursuing employment. The extent of GOP support for Romney’s proposal is unclear.

Unlike Democrats’ plan, Romney’s Family Security Act would be paid for, in part, by eliminating Temporary Assistance for Needy Families, a welfare program, as well as other existing federal tax credits for children and working families. Many Democrats are likely to oppose this part of Romney’s plan.


The major difference from Biden's plan...to Mitts--Mitt's plan pays for itself..albeit at eliminating the EIC for families--it effect, this targets the benefit to the lower income brackets.,.,.and mitt's plan is deficit neutral--it is a shift in funds..not a new expense!

The Dems want the old AND the new...I like Mitt's plan better and so do the experts.

Romney’s plan differs from Biden’s in several key ways. Romney is proposing to pay for the measure by both consolidating existing government programs and ending a policy that lets Americans deduct up to $10,000 in state and local taxes off their federal tax obligations, a move Democrats are expected to oppose, especially those representing areas with higher taxes.
If enacted, Romney’s plan would be deficit-neutral and finance the new child benefit through 2025, the Niskanen Center’s analysis found.
Biden has proposed a one-year expansion of the child benefit that would add about $120 billion to the deficit. Senior Democrats and Biden officials have said they aim to make the benefit permanent after it is potentially approved for one year in the current stimulus package.

Under Romney’s plan, the size of the benefit would also begin to diminish at above $200,000 in annual income for single tax filers, as well as $400,000 for joint filers. Democrats have not detailed income thresholds on the child tax credit expansion they are expected to unveil in days.
If there's no money in there to bail out the pension funds of state bureaucrat unions and payola to the democrat governors who foolishly kept their states locked down, it's no deal.
 

Oddball

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One can hope that one of these days, the populace as a whole will wake up to the fact that government taking a large amount of our income in taxes, and then giving us a much smaller amount back as a “stimulus” leaves us poorer than if government just let us keep our own money to begin with.

It's like the cliché about government breaking your leg, and then you're supposed to be grateful when government provides you with a crutch.
Yep. Additionally only ~half the population pays federal income taxes, and those that do pay income taxes are less likely to qualify for the stimulus, as there are income limits for any payments.

It's simply more wealth redistribution, as usual.
HalfPayNoTax.jpg
 

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