CHILD RELIEF ACT

WRITTEN BY - Sen. James Brown (D-Dixie)
----101st Congress of the United States
IN BRIEF
To provide aid to American families and those managing newborn children. 
== Section 1. Name of Bill ==
This Bill will be known as the Child Relief Act for the duration of this bill, in all debates, and following enactment by the executive branch will carry the same title.
== Section 2. Findings and Definitions ==
FINDINGS
# Whereas, to establish a new Child Tax Credit program to American families, providing aid to care for their children
# Whereas, to establish a new baby bond program, to aid families experiencing their first child, and assure they can purchase necessary items for their new children. 
DEFINITIONS
# Child Tax Credit  - A refundable tax credit for families with dependents (children)
== Section 3. Child Tax Credit ==
Upon the passage of this legislation, the following reforms would be made in regards to childcare:
# A Child Tax Credit (CTC) shall be established. The criteria for the credit shall be displayed below:
## No minimum earning requirements
## $400 per child for up to 5 children, for all children 18 or below. 
## The maximum income eligible to receive full benefits would be set as:
### $85,000 for taxpayers’ adjusted gross income 
### Phase out gradually after the limit, and phase out entirely at adjusted gross incomes higher than $150,000 
== Section 4. Baby Bonds ==
Upon the passage of this legislation, the following program shall be created: 
# The Department of Health and Human Services shall create a new program, called the “American Baby Bonds Program”. 
# $400 would be provided in a 1-time payment to parents upon the birth or adoption of a child.
## For adoption requirements: Provided the child being adopted is age 11 or below.
## Only one adopted child would be eligible for the grant. 
## If multiple children are born, the parents may claim the $400 bond per child
### E.g.: If twins are born, the parents would receive $400 per child, equalling $800 total
# The criteria for parents eligible for the program shall be displayed below:
## No minimum earning requirements
## If the adjusted gross income is up to 250% of the federal poverty level
### The federal poverty level for 1989: $6,311 per person
### Adjusted gross income limit: $15,777.50 
# The American Baby Bonds Program shall expire 5 years after the passage of this legislation, unless reauthorized again by Congress.
== Section 5. Funding ==
Upon the passage of this legislation, the following tax reforms shall be established: 
# An equalized tax on all alcohol beverages shall be established, and set at $16.00 per proof-gallon. 
TOTAL BILL IMPLEMENTATION COST - $7.8 billion 
* Section 3 - $12 billion annually 
* Section 4 - $3 billion annually up to 5 years, unless reauthorized by Congress
* Section 5 - +7.2 billion (raised due to tax changes)
FUNDING SPECIFICS
Funding raised by the equalized tax on alcoholic beverages shall be used to partially fund the program. The federal government and states shall cover the rest of the cost.
Category:Bills