Washington, D.C. – Today, Humanity Forward is applauding the office of Senators Mitt Romney (R-UT), Richard Burr (R-NC), and Steve Daines (R-MT) for introducing a plan to create a sustainable monthly Child Tax Credit. The previously expanded CTC’s monthly payments that lapsed in December 2021.
“Humanity Forward applauds Senators Romney, Burr, and Daines for moving forward the conversation about how best to support families with a fully paid-for, cash benefit through the Family Security Act,” said Paolo Mastrangelo, Humanity Forward’s Head of Policy & Government Affairs. “We’re encouraged by this thoughtful plan and effort to build a meaningful Child Tax Credit based on conservative values, and we’re looking forward to continuing to build Republican support for a tax cut that has supported families so well.”
The plan would ensure taxpayers have the option to receive their benefit in advance, monthly payments, meeting families where and how they budget and helping them take on inflation. It would also ease phase-ins and provide expanded benefits for America’s vulnerable families.
“The plan introduced by Sens. Romney, Burr, and Daines marries conservative principles with a commitment to providing direct support for parents,” said Patrick Brown, HF Policy Council member and fellow at the Ethics and Public Policy Center. “By reforming and improving how the federal government provides aid to low-income and working-class families, the Family Security Act offers a promising way forward that fits squarely with Humanity Forward’s goals of common-sense policymaking.”
With inflation reaching historic highs this year, the return of the monthly Child Tax Credit would insulate American families from the worst of rising costs. In a study published by the Brookings Institution earlier this year, researchers at the Social Policy Institute at Washington University in St. Louis and Appalachian State University found 70 percent of parents receiving the monthly credit said the monthly payments helped them better manage higher prices.
“Families want Congress to get together and make a monthly credit happen,” said Mastrangelo. “This plan brings us closer to doing just that. Humanity Forward is ready to work with legislators in both chambers and parties to see that families get more of their own money back to fight inflation.”