Pregnant women and parents would get direct monthly cash payments from the Social Security Administration: $800 a month during pregnancy, $400 a month for each child under 6, and $250 a month for each child 6 through 17. Married couples get a 20 percent bonus, and payments phase out for individuals earning more than $125,000 (or couples over $250,000). In exchange, the bill eliminates the existing Child Tax Credit, replacing a once-a-year tax refund with predictable monthly checks. The change would affect most of the roughly 35 million U.S. households with children under 18.
Congressional Summary
Family Income Supplemental Credit Act or the FISC ActThis bill replaces the federal child tax credit with monthly payments provided by the Social Security Administration (SSA) to qualified pregnant women and caregivers of eligible children.Specifically, the bill provides a monthly payment of$800 to a qualified pregnant woman,$400 to a qualified caregiver for each eligible child who is under six years old, and$250 to a qualified caregiver for each eligible child who is at least six years old.The monthly payment increases by 20% if the individual is a married pregnant woman or married to a qualified caregiver of an eligible child.Under the bill, the monthly payment begins to phase out for individuals with an adjusted gross income exceeding $125,000 ($250,000 for joint filers) for the most recently ended tax year. (Other limitations apply.)The bill defines an eligible child as an individual whois under 18 years old;is a U.S. citizen, U.S. national, or permanent resident alien; anddoes not provide more than half of their own financial support during the tax year.Further, a qualified caregiver must be at least 18 years old, reside with the child, and economically support the child.The bill also provides funding for the monthly payments and establishes the Bureau of Family Statistics within the SSA to provide certain information.Finally, the bill requires the SSA to issue regulations, establish a system to report marital or caregiver status changes, and report to Congress annually on the payments.
Details
- Congress
- 119th
- Chamber
- House
- Status
- summarized
- Action
- Introduced in House
- Action Date
- 2025-02-13
- Date Added
- 2026-04-21
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