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03.02.2021 0

A Universal Basic Income for Kids?

President Biden and Senator Mitt Romney have both proposed expanding tax-credits that would send almost every parent $250 or more a month. With Today’s ALG Minute, I’m Catherine Mortensen. Under Biden’s plan, families with two children would typically receive about $7,200 a year. Under Romney’s plan—$8,400. That’s less than the $12,000 per adult in universal basic income proposed by Andrew Yang, former Democratic presidential candidate. But it’s a lot of money to a lot of parents, regardless of whether they work and almost regardless of how much they earn. Both Biden’s and Romney’s proposals would pay the credit each month. The main aim of their proposals is to reduce child poverty, which is higher in the U.S. than in most advanced countries. Both would slash the number of children in poverty by around 3 million, or a third, according to the Niskanen Center. I question how we can ensure that money is actually benefitting children and not simply going to support a parent’s bad habits. For more check us out at the Daily Torch.com.

https://www.wsj.com/articles/universal-basic-income-could-be-coming-for-kids-11613574528

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