FISC Act
Sponsored By: Representative Golden (ME)
Introduced
Summary
Creates a monthly cash benefit, the Family Income Supplements, for pregnant people and caregivers and repeals the Child Tax Credit. The Social Security Administration will run the program and create a Bureau of Family Statistics to collect data and report on operations.
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Bill Overview
Analyzed Economic Effects
4 provisions identified: 1 benefits, 1 costs, 2 mixed.
New monthly cash for families
This bill would create Family Income Supplements, run by Social Security. Pregnant women and qualified caregivers could apply for monthly payments. A new Bureau of Family Statistics would support the program and reporting. The government would provide whatever funds are needed to run it. Payments would start no sooner than the first month beginning at least one year after enactment.
Child tax credit would end
This bill would repeal the Child Tax Credit starting with tax years after the year when the new program’s first month begins. In the first affected tax year that starts before that month, the credit would be cut pro rata based on the number of months before that first month. The tax code would be updated to remove or fix references to the old credit.
Family payments: amounts and limits
If enacted, monthly payments would be $800 for a pregnancy, $400 for each child under 6, and $250 for each child age 6–17. If you are a married pregnant woman or married to a qualified caregiver, your total payment would be 20% higher. Payments would phase down by $16.67 for each whole $1,000 of income over $125,000 (single) or $250,000 (married filing jointly). Your monthly payment could not be more than one‑twelfth of you and your spouse’s combined adjusted gross income from the last tax year.
Who qualifies and when payments start
If enacted, an eligible child would be under 18, not provide over half of their own support, and be a U.S. citizen, national, or permanent resident. A qualified caregiver would be 18 or older, live with the child, and provide economic support; only one caregiver could be paid per child. Payments for pregnancy months would start once the pregnancy has reached at least 20 weeks, including the application month; after birth, a qualified caregiver could receive monthly payments. If a birth occurs, the pregnancy payment would convert to a child payment for up to 90 days while a caregiver files, and payments made in that window would not be clawed back if an application is late or denied. Applications would need SSNs or tax IDs, home addresses, recent‑year income, and marital status; pregnant applicants would also list the due date and prenatal provider.
Sponsors & CoSponsors
Sponsor
Golden (ME)
ME • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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