Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
Photo: Bill Clark-Pool/Getty Images
Sen. Mitt Romney (R-Utah) is proposing a monthly cash benefit totaling $4,200 a year for children ages 0-5 and $3,000 a year for children ages 6-17 as a means of combating child poverty.
Why it matters: White House chief of staff Ron Klain tweeted that he looked forward to seeing the details of Romney's plan, calling it "an encouraging sign that bipartisan action to reduce child poverty IS possible." Thus far, Biden's $1.9 trillion coronavirus stimulus proposal has garnered little Republican support.
Between the lines: Similar legislation drafted by Democrats would provide $3,600 a year for children ages 0-5 and $3,000 a year for children aged 6-17. Both plans would directly deposit the benefit into recipients' bank accounts each month.
- But Romney's plan, unlike Democrats' proposal, would partially fund the benefits by eliminating the Temporary Assistance for Needy Families welfare program and other child and family tax credits.
- Romney's plan would also eliminate the State and Local Tax Deduction (SALT), which he said in a statement "is an inefficient tax break to upper-income taxpayers."
What to watch: Romney is expected to introduce the idea as an amendment to Democrats' budget resolution that will ultimately be the vehicle for passing Biden's $1.9 trillion relief package, per the Washington Post.