Stimulus check update: What to know about $350 monthly payment proposal – NJ.com

Sen. Mitt Romney's, R-Utah, proposal to revive the enhanced child tax credits could provide some with up to $350 monthly payments. But there will be a catch: those who accept the payments will have to abide by work requirements. (AP Photo/Matt Rourke, File)AP
A new stimulus proposal from Sen. Mitt Romney, R-Utah to revive the enhanced child tax credits from 2021 could provide some with up to $350 in monthly payments.
But there will be a catch: Those who accept the money will have to abide by work requirements.
Romney’s staff said his proposal has not been formally introduced and is currently under negotiation with both parties before being finalized.
Here is what you need to know about the new proposal.
Under Romney’s Family Security Act, eligible families with children up to 5 years old would get $350, and families with children 6-17 years old would get $250.
The measure would also allow expecting parents to begin receiving payments four months before their baby’s due date.
Monthly payments for families would max out at $1,250.
Romney’s plan also calls for the payments to be phased out by income thresholds.
For example, if a single tax filer makes over $200,000 or if joint filers make over $400,000 together, $50 would be deducted from the monthly payments for every $1,000 the tax filers make above their income thresholds.
The Romney plan also includes a controversial element known as work requirements.
Although his proposal does not go into the specifics, most states that have work requirement programs require the benefit recipient to work, volunteer or receive an equivalent amount of job training for 80 hours a month, according to NBC News.
Related stories about the stimulus:
Stimulus update: Here’s who will get a payment in 2022
Stimulus update: $2,000 monthly checks petition reaches milestone number of signatures
Will Social Security recipients get a 4th stimulus check?
Stimulus update: Monthly payments could resume for some under new proposal
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