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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

Ben Geman, author of Generate
3 mins ago - Energy & Environment

IEA analysis charts "narrow" pathway to Paris climate goal

Photovoltaic solar panels at the power plant in La Colle des Mees, Alpes de Haute Provence, southeastern France. Photo: Gerard Julien/AFP via Getty Images

The pathway for transforming global energy systems to reach net-zero emissions by 2050 is "narrow but still achievable" and demands unprecedented acceleration away from fossil fuels, an International Energy Agency report published Tuesday concludes.

Why it matters: It provides detailed analysis and estimates of what's needed for a good shot at limiting temperature rise to 1.5°C above preindustrial levels — the Paris Agreement benchmark for avoiding some of the most damaging effects of climate change.

In photos: Deadly Cyclone Tauktae leaves trail of destruction across India

A police officer helps a public transport driver cross a flooded street due to heavy rain caused by Tropical Cyclone Tauktae in Mumbai, India, on May 17. Photo: Ashish Vaishnav/SOPA Images/LightRocket via Getty Images

Tropical Cyclone Tauktae killed at least 16 people in India after making landfall in Gujarat Monday, packing 100mph winds, and sweeping across Kerala, Karnataka, Goa and Maharashtra, per Reuters.

The big picture: The storm unleashed heavy rains and winds as authorities continued to grapple with surging infection rates and deaths from COVID-19. Over 200,000 people were evacuated from Gujarat, and ports, airports and vaccination centers shut in the state and Mumbai, Reuters reports. Tauktae weakened from a Category 3 storm into a "severe cyclonic storm" Tuesday morning local time.

4 hours ago - Politics & Policy

Scoop: Yellen wants business to help foot infrastructure bill

Treasury Secretary Janet Yellen. Photo: Alex Wong/Getty Images

Treasury Secretary Janet Yellen is heading into the belly of the beast Tuesday and asking the business community to support President Biden's $2.3 trillion infrastructure plan during a speech to the U.S. Chamber of Commerce.

Why it matters: By trying to persuade a skeptical and targeted audience, Yellen is signaling the president’s commitment to raising corporate taxes to pay for his plan. Republican senators, critical to a potential bipartisan deal, oppose any corporate tax increase.