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Last year, the Child Tax Credit was expanded, which meant that eligible families wound up receiving checks of up to $300 every month. However, it was not extended into 2022 so many people struggling financially haven't received a check since December. That might soon change though, as new legislature is being worked on.
Republican Senator Mitt Romney of Utah introduced the Family Security Act, which is very similar to the Child Tax Credit, except proposes more money is sent out. It will see families 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 is $1,250.
The benefit will go in full to every family with a single tax-filer making up to $200,000 and every household with joint-filers who have children and make a combined $400,000. 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.
Unlike the Child Tax Credit, there is a catch to the proposal - beneficiaries must work, volunteer or train for at least 80 hours a month, and that's likely why it hasn't become official yet. While members from both parties are in favor of providing assistance to families, having a work requirement is a sticking point that is currently being negotiated. Nonetheless, the White House previously had said that they wanted the Federal Child Tax Credit to be around for "years and years to come," so this could be a good compromise.
If it is hashed out soon, families could once again see monthly checks, even ones that don't yet have children. The proposal allows parents to file for benefits up to four months before their newborn's due date.