FISC Act

This bill would get rid of the current child tax credit and replace it with monthly payments sent out by the Social Security Administration. Pregnant women who qualify would receive $800 per month, caregivers of children under six would get $400 per month per child, and caregivers of children six and older would get $250 per month per child, with married individuals receiving a 20% increase. The payments start to decrease for individuals earning more than $125,000 a year, or $250,000 for married couples filing together. The bill also creates a new office called the Bureau of Family Statistics within the Social Security Administration and requires the agency to set up rules, track changes in people's marital or caregiver status, and report to Congress each year on how the payments are working.

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