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Rep. Richard Neal. Photo By Bill Clark/CQ Roll Call

Democrats will introduce a proposal attached to the next stimulus package that would provide $3,000-per-child direct payments in certain households.

Why it matters: The new legislation, led by Ways and Means chairman Richard Neal (D-Mass.), comes shortly after Sen. Mitt Romney (R-Utah) introduced a similar proposal, lending bipartisan support to expanding cash benefits for families with children.

The Biden Administration has reviewed and supports the proposal, according to the Washington Post who first reported the plan. The legislative proposal, reviewed by Axios, will be revealed Monday along with other Ways and Means provisions.

  • The IRS would begin depositing payments into bank accounts July 1.
  • The payments would come in monthly installments.
  • Qualifying household incomes would be based on the previous year with lower payouts for individuals making $75,000 for individuals and $150,000 for those filing jointly.
  • Eligible households with children 17 to 6 could receive payments of $3,000 for each child and $3,600 for children under 6.

What they're saying: “The pandemic is driving families deeper and deeper into poverty, and it’s devastating, Rep. Ritchie Neal (D-Mass.), chairman of the Ways and Means Committee, said in a statement.

  • "We are making the Child Tax Credit more generous, more accessible, and by paying it out monthly, this money is going to be the difference in a roof over someone’s head or food on their table," he said.

Go deeper

Updated 3 hours ago - Sports

Olympics dashboard

Katie Ledecky in Tokyo. Photo: Ding Xu/Xinhua via Getty Images

🚨: Simone Biles won't compete in individual vault or uneven bars

🏊‍♀️: Katie Ledecky wins gold in women's 800m freestyle

🏊: Caeleb Dressel breaks world record in men's 100m butterfly, 3rd gold

🇬🇧: Britain wins gold in first-ever Olympic mixed 4x100m medley relay

🎾: Novak Djokovic defeated in Olympic semi-finals

💻: Japan tests teleporting games and "remote cheering"

Go deeper: Full Axios coverage

Updated 4 hours ago - Sports

Simone Biles won't compete in individual vault or uneven bars Olympic finals

Photo: Loic Venance/AFP via Getty Images

Simone Biles will not compete in the individual vault or uneven bars finals at the Tokyo Olympics, USA Gymnastics announced Friday.

Why it matters: USA Gymnastics said Biles, who previously withdrew from the individual all-around and team finals to prioritize her mental health, will continue to be evaluated to determine if she'll compete in the balance beam or floor exercise events.

4 hours ago - Sports

American Katie Ledecky wins Olympic gold in women's 800m freestyle

USA's Katie Ledecky reacts after taking gold in the final of the women's 800m freestyle race. Photo: Odd Anderson/AFP via Getty Images

American superstar swimmer Katie Ledecky grabbed her second gold medal of this year's Olympic Games, winning the women's 800-meter freestyle race Saturday in Tokyo.

Driving the news: Ledecky, who holds the world record in the 800m freestyle, is considered one of the best women swimmers of all time. Saturday's final marks her third straight Olympic gold in the event.