Fellow American,
In these uncertain times, I don’t think there’s a family in America -- including mine! -- that isn’t tightening their belts and cutting extras from their household budgets.
But that challenge is even greater for new parents, who may face significant financial challenges due to both the COVID-19 economy and the cost of preparing for and bringing a new baby into the world.
Fortunately, there’s a pro-family bill in Congress that would help, both now and in the future.
Last year, Senators Bill Cassidy (R-LA) and Kyrsten Sinema (D-AZ) introduced bipartisan legislation to give new parents the option to receive a $5,000 “baby bonus” upon the birth or adoption of a child -- at virtually no cost to the federal government and other taxpayers.
During these economically challenging times, a $5,000 “baby bonus” could make a life-changing difference for families.
An extra financial boost, especially in time of widespread job loss, can help to ward off debilitating expenses or lost wages for the most vulnerable families.
Plus, under this legislation, the majority of new parents could choose to receive a $5,000 check that belongs to them with no strings attached. It could be used to pay for costs associated with childbirth, infant care, maternal care, child care if they choose to return to work, or time off from work to bond with their new baby.
Unlike many so-called family-friendly policy ideas, this legislation gives flexibility and choice to families, without expensive, intrusive government bureaucracy.
The $5,000 that new parents can choose to receive is paid through their own Child Tax Credit. The one-time boost upon the birth or adoption of a child is “paid back” through a slightly reduced Child Tax Credit for the next 10 years: $1,500 instead of the usual $2,000.
And if new parents would prefer not to receive the “baby bonus,” they don’t need to.
This legislation lets American families choose when to get financial support and how to use it.
That’s why it’s good for new parents, good for families, and good for our country … and also why the American Principles Project issued a “yes” vote recommendation for it earlier this year.
Fellow American, you may not see new policy ideas like this in the news often … but these are the headlines that the American Principles Project pays attention to for you.
No matter the changing circumstances ahead of us, you can count on the American Principles Project to identify, research, and promote the policies that protect children, empower parents, and defend American families.
Thank you for your support.