H.R.1308 - Family Income Supplemental Credit Act; FISC Act (119th Congress)
Summary
H.R.1308, the Family Income Supplemental Credit Act (FISC Act), proposes to provide monthly payments to eligible pregnant women and parents to improve their ability to provide for their children and other family members. The bill establishes a system of monthly payments administered by the Commissioner of Social Security, with specific eligibility criteria and payment amounts based on pregnancy status, the age of the child, and income levels. It also repeals the existing Child Tax Credit.
Expected Effects
If enacted, the FISC Act would create a new social welfare program providing direct monthly payments to qualifying families. This would likely reduce poverty among eligible families. However, it would also eliminate the existing Child Tax Credit and could potentially increase the national debt.
Potential Benefits
- Direct financial assistance to pregnant women and families with children.
- Potential reduction in child poverty rates.
- Increased financial stability for low-to-moderate income families.
- Marriage bonus incentivizes stable family structures.
- Establishment of a Bureau of Family Statistics to gather relevant data.
Potential Disadvantages
- Repeal of the existing Child Tax Credit could negatively impact some families.
- The program's income phase-outs may create disincentives to work.
- Potential for fraud and administrative challenges in determining eligibility.
- Increased government spending and potential strain on the Social Security Administration.
- Complexity in navigating the application and eligibility requirements.
Most Disadvantaged Areas:
Constitutional Alignment
The bill's alignment with the Constitution is primarily rooted in the "general Welfare" clause (Article I, Section 8). This clause grants Congress the power to provide for the well-being of the nation. However, the scope of this clause is subject to interpretation, and some may argue that such a program exceeds the federal government's enumerated powers. The repeal of the Child Tax Credit and its replacement with a new program also raises questions about fiscal responsibility and the appropriate role of the federal government in family support.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).