Rep. Golden Introduces FISC Act to Replace Child Tax Credit With Monthly Payments
The FISC Act was recently introduced in the House and is currently being reviewed by the Committee on Ways and Means. This bill is actively moving through the early stages of the legislative process. There are no upcoming votes scheduled at this time.
While the bill is led by a moderate, replacing a popular tax credit with direct government spending is a major policy shift that usually faces strong opposition in a divided Congress.
Scores run from -100 (strongly harmful) to +100 (strongly beneficial) for each group, combining impact, certainty, scope, and duration ratings of 1-5. How impact scoring works
The bill requires children to be citizens, nationals, or permanent resident aliens to qualify. Undocumented families would be excluded entirely from the new monthly payment system. Under the current Child Tax Credit, some undocumented parents with citizen children can claim the credit using an ITIN; this bill eliminates that pathway by requiring Social Security numbers or tax ID numbers and repealing the CTC.
“The term ``eligible child'' means an individual who-- (A) has not attained 18 years of age; (B) has provided not more than half of their own financial support during the most recent taxable year of the child; and (C) is a citizen or national of the United States, or a permanent resident alien.”
Referred to the House Committee on Ways and Means.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Rep. Jared Golden (D-ME) introduced the FISC Act to replace the Child Tax Credit with a program providing monthly payments to families. The bill would be funded by repealing the existing credit and imposing a new tax on high-income earners, aiming to provide more consistent support to parents.
In a roundup of federal tax legislation, the FISC Act is identified as a major proposal to overhaul family benefits. The bill would transition the Child Tax Credit into a monthly payment system administered by the Social Security Administration for parents and pregnant women.
No votes or related bills recorded for this bill yet.
Document Type
Congressional Bill
Official Title
FISC Act
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