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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.

Go deeper

Feb 3, 2021 - Politics & Policy

Chamber warns Biden not to submit to progressive wish

Senate Majority Leader Chuck Schumer talks about the Democrats' $1.9 trillion stimulus proposal Tuesday. Photo: Oliver Contreras/Bloomberg via Getty Images

The U.S. Chamber of Commerce is urging the Biden administration not to go around Republicans to pass the president’s $1.9 trillion stimulus package, a move being pushed by the Democrats’ progressive wing.

Why it matters: The historically conservative group fears that if President Biden submits, it could foil any shot at bipartisanship for future legislation, such as highly anticipated plans for infrastructure and climate change bills.

Mike Allen, author of AM
3 hours ago - Politics & Policy

Biden adviser Cedric Richmond sees first-term progress on reparations

Illustration: "Axios on HBO"

White House senior adviser Cedric Richmond told "Axios on HBO" that it's "doable" for President Biden to make first-term progress on breaking down barriers for people of color, while Congress studies reparations for slavery.

Why it matters: Biden said on the campaign trail that he supports creation of a commission to study and develop proposals for reparations — direct payments for African-Americans.

Cyber CEO: Next war will hit regular Americans online

Any future real-world conflict between the United States and an adversary like China or Russia will have direct impacts on regular Americans because of the risk of cyber attack, Kevin Mandia, CEO of cybersecurity company FireEye, tells "Axios on HBO."

What they're saying: "The next conflict where the gloves come off in cyber, the American citizen will be dragged into it, whether they want to be or not. Period."