Republican Senator Josh Hawley proposes a bill that allocates a $ 6,000 tax credit to single parents and a $ 12,000 tax credit to married parents with children under the age of 13.
“We need a plan to help working parents who are parents and parents work. This week, I’m going to give working parents a big tax cut so they can afford to start a family and raise children. I’m going to suggest, “he tweeted on Saturday.
Hurley’s proposal provides tax credits to parents with incomes of $ 7,540 or more, equivalent to 20 hours of work per week at the federal minimum wage. Fox News reported.. Revenue benchmarking requirements are the same for single and married parents. The policy also includes a “marriage bonus”.
Until this year, families could claim up to $ 2,000 per child as a tax credit. However, under the former arrangement, many low-income households were not eligible to receive full profit because their income did not meet the minimum criteria for qualification.
After the coronavirus relief bill was passed by Congress, tax credits were extended to poor families, increasing to $ 3,600 per child up to the age of 6 and $ 3,000 for older children up to the age of 17.
This policy provides payments via the IRS, which is instructed to develop an online portal for recipient households to enter information. The plan also allows families to waive their lump sum monthly payments when filing a federal tax return.
In addition to Holi, Republican Senator Mitt Romney also defended kinship law. As the economy stagnated due to the coronavirus and lower fertility and marriage rates in the United States, Romney proposed a family safety law that included permanent monthly payments to American households.
“American families are facing a greater financial burden, exacerbated by the COVID-19 pandemic, and have the lowest marriage and fertility rates in history,” Romney said in a statement. “In addition, we have not comprehensively reformed our family support system for nearly 30 years, and economic changes have left millions of families behind.”