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Conservatives who want an economic policy that supports parents have long been a minority faction within the Republican Party.
In 2017, when Republicans were in the process of passing a tax reform, U.S. Sens. Marco Rubio of Florida and Mike Lee of Utah proposed that the bill cut corporate tax rates a bit less and expand the tax credit for children a bit more. The Trump administration came out against the move, and most Republican senators voted it down. (Most Democrats voted no, too, because they disliked the bill overall and wanted to make it as unattractive to voters as possible.)
But the tide among Republicans may be turning. Three senators — Mitt Romney of Utah, Richard Burr of North Carolina and Steve Daines of Montana — have just proposed a new child benefit. It would give parents $700 per month starting halfway through pregnancy, $350 per month for children aged zero to 5 and $250 a month for children ages 6 to 17.
It's a new version of a Romney proposal from last year, and one that is well-timed for the expected reversal of the federal right to abortion.
Like the previous version, the proposal would also reform the earned-income tax credit. That's a subsidy to low-wage workers that encourages them to join and stay in the labor force. The proposal would change it in various ways.
Most notably, recipients would no longer receive a smaller benefit if they get married. The proposal calls for paying for all these changes by eliminating the tax deduction for state and local taxes. Many taxpayers who currently claim that itemized deduction would, however, either come out ahead or at least cut their losses because they have children, even if they live in high-tax states.