FISC Act
Summary
What This Bill Does
The Family Income Supplemental Credit Act creates a new Social Security Administration benefit and replaces the child tax credit. Pregnant women may apply for monthly payments once pregnancy has lasted at least 20 weeks, and qualified caregivers may apply for monthly payments for eligible children under 18 who are U.S. citizens, nationals, or permanent residents and do not provide more than half their own support. Payments are $800 per month for pregnancy, $400 per month for a child under 6, and $250 per month for a child age 6 through 17, with a 20 percent increase for married pregnant beneficiaries or married caregivers and a phase-down above $125,000 AGI or $250,000 joint AGI. SSA must create a Bureau of Family Statistics, build marital and caregiver status reporting, issue regulations, file annual reports, and pay benefits from sums appropriated from Treasury. Section 3 repeals Internal Revenue Code section 24 child tax credit and related provisions after the new program starts, with a partial-year transition rule.
Who Benefits and How
Pregnant beneficiaries benefit from $800 monthly payments beginning at 20 weeks of pregnancy. Qualified caregivers benefit from monthly child payments of $400 for children under 6 and $250 for older eligible children. Married caregivers and married pregnant beneficiaries benefit from a 20 percent payment increase. Lower- and middle-income families benefit most because payments phase down above $125,000 or $250,000 joint AGI.
Who Bears the Burden and How
The Social Security Administration must create applications, payments, status reporting, regulations, annual reports, and a Bureau of Family Statistics. The IRS must repeal and transition child tax credit provisions and conform related tax code sections. Families currently relying on the child tax credit lose that tax credit once the replacement program starts. Federal taxpayers bear the cost of open-ended monthly benefit appropriations through Treasury.
Key Provisions
- Establishes SSA monthly payments for pregnancies lasting at least 20 weeks and eligible children under 18.
- Provides $800 monthly pregnancy payments, $400 payments for children under 6, and $250 payments for older children.
- Reduces payments above $125,000 individual or $250,000 joint AGI and caps payments by income.
- Creates a Bureau of Family Statistics and annual reporting duties within SSA.
- Repeals the federal child tax credit after the new family income supplement starts.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
Creates Social Security Administration monthly family income supplement payments for pregnancies and children, then repeals the federal child tax credit on the transition schedule.
Key Policy Areas
Family Benefits, Tax, Social Security
Primary Purpose
Creates Social Security Administration monthly family income supplement payments for pregnancies and children, then repeals the federal child tax credit on the transition schedule.
Policy Domains
Resolution provisions
Identified Gains
- Pregnant beneficiaries
- Qualified caregivers
- Married caregivers
- Lower-income families
Identified Costs
- Social Security Administration
- IRS
- Families using child tax credit
- Federal taxpayers
Legislative Progress
In CommitteeMr. Golden of Maine introduced the following bill; which was …
Referred to the House Committee on Ways and Means.
Introduced in House
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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