30 million people may now get their $1,400 stimulus checks after the Social Security Administration released new information

Richard Neal
Rep. Richard Neal (D-MA).

  • 30 million people on Social Security and Supplemental Security incomes haven’t gotten stimulus checks yet.
  • That’s because the SSA wasn’t sending necessary payment information to the IRS.
  • Top House Democrats gave the SSA 24 hours to provide it, and the IRS got it Thursday morning.
  • See more stories on Insider’s business page.

Following a 24-hour ultimatum from Democratic lawmakers, the Social Security Administration provided information to the Internal Revenue Service on Thursday that will help more Americans get stimulus payments.

Nearly 30 million Social Security and Supplemental Security income beneficiaries were kept waiting on stimulus payments because, House Democrats said, the SSA hadn’t provided the Internal Revenue Service with necessary payment files for them.

On Wednesday, the chair of the House Ways and Means Committee, Richard Neal, and the chair of the House Oversight Subcommittee, Bill Pascrell, Jr., sent a letter to the SSA requesting that information be sent over right away. “We are giving the trump-appointed heads of the Social Security Admin **24 Hours** to get off their backsides and stop delaying sending stimulus checks to 30,000,000 Americans,” Pascrell said on Twitter on Wednesday.

On Thursday, the SSA transferred the necessary files to the IRS, making it possible for the affected Americans to get the $1,400 stimulus checks that many others have already received.

“The delays imposed by Commissioner Saul defied congressional intent and imposed needless anxiety and pain on taxpayers,” the Democrats said in a statement on Thursday. “Now the IRS needs to do its job and get these overdue payments out to suffering Americans. Further delays will not be tolerated by this committee.”

Rep. John Larson of Connecticut and Rep. Danny Davis of Illinois had joined Neal and Pascrell in calling for action from the SSA and IRS.

Since President Joe Biden’s stimulus bill was signed into law, Americans across the country have encountered delays in receiving stimulus aid. Due to December and March stimulus changes, the IRS was behind in processing nearly 7 million tax returns, and customers of major online tax preparers, such as TurboTax and H&R Block, faced delays on the $10,200 tax break on unemployment benefits received during the pandemic.

As a result of the delays, along with calls from lawmakers, the IRS extended tax filing season to May 17, which Neal and Pascrell said would lift the “titanic strain” on taxpayers.

The Treasury Department, IRS, and Bureau of Fiscal Service announced on Wednesday that 127 million of the $1,400 stimulus checks have been sent out to date.

Read the original article on Business Insider

Romney proposes a plan to provide up to $350 in monthly child benefits

Mitt Romney
Sen. Mitt Romney, R-Utah, speaks during a news conference with a group of bipartisan lawmakers to unveil a COVID-19 emergency relief framework in the Dirksen Senate Office Building in Washington on Tuesday, Dec. 1, 2020.

  • Sen. Mitt Romney of Utah released a proposal on Thursday to provide $350 monthly child benefits.
  • This plan contrasts with legislation Democrats have already drafted to provide $300, fully refundable, monthly child tax credits.
  • A former policy advisor to Congress’ Joint Economic Committee said that Romney’s plan is more financially responsible and aligns with conservative beliefs.
  • Visit the Business section of Insider for more stories.

Sen. Mitt Romney of Utah released a proposal on Thursday to provide up to $350 in monthly benefits per child in each American household, pitching an alternative to the Democratic proposal of $300 monthly benefits.

Romney’s proposed legislation, called The Family Security Act, would provide monthly cash benefits of $350 for each young child, and $250 a month for each school-aged child. According to the press release, the benefits of the proposal would include cutting child poverty by up to one-third, providing equal treatment for both working and stay-at-home parents, and reforming outmoded federal programs.

“Now is the time to renew our commitment to families to help them meet the challenges they face as they take on most important work any of us will ever do-raising our society’s children,” Romney said in a statement. “This proposal offers a path toward greater security for America’s families by consolidating the many complicated programs to create a monthly cash benefit for them, without adding to the deficit.”

This proposal comes after drafted legislation from Democrats on child benefits, which proposes a fully refundable, monthly $300 benefit.

In the outline for Romney’s plan, the child monthly benefit would:

  • Allow parents to apply for the benefit four months prior to a child’s due date;
  • Be administered monthly through the Social Security Administration;
  • And be reduced by $50 for every $1,000 above the current child tax credit income phaseout thresholds.

Patrick Brown, a former senior policy advisor to Congress’ Joint Economic Committee, told Insider that Romney’s plan is an improvement of the Democrats’ plan because it creates a more straightforward way of getting more assistance to low-income families.

“Having a monthly benefit paid out through the Social Security Administration makes a ton of sense, so I’m excited to see it rolled out,” Brown said. “I’m hoping conservatives and progressives get behind it because I think that this is a way that we should be tackling child poverty and making it more straightforward for low income workers to get assistance for their families.”

Conservatives should welcome Romney’s plan, Brown said, because it is more fiscally responsible than Biden’s plan given that is consolidates benefits by getting ride of the State and Local Tax Deduction.

“Putting more money in the pockets of parents with kids is a profoundly conservative goal and vision, and I think that there will be some senators who get behind it for that reason because it is both financially responsible and because it is authentically pro-family and pro-child,” Brown said.

Democrats have strongly supported President Joe Biden’s child benefits plan, but with Republicans wary of the price tag, as Insider previously reported, Romney’s $254 billion proposal faces uncertainty.

Read the original article on Business Insider