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Mitt Romney Wants Your Child to Have a $4,200 Yearly Allowance
To pay for increased aid to parents, he would end the deduction on state and local taxes entirely.
Not the 2012 Mitt Romney.
Photographer: George Frey/Getty Images
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Mitt Romney is putting forward a wildly ambitious proposal to re-orient the American welfare state toward children. The federal government transfers a hefty chunk of national income from younger people to the elderly. The Utah Republican senator wants more money to go to the parents of minor children.
His plan would create a child allowance. Nearly all U.S. children — excluding only those from the highest-earning households — would be allotted a monthly benefit worth $4,200 a year up to age 5 and $3,000 a year up to age 17.