New Republican plan calls for renewing monthly child tax credit payments — but there are ‘significant’ trade-offs, one report finds

Millions of families came to count on pandemic-era monthly child tax credit checks of up to $300 per child, a program that expired last December.

Now, a new Republican Senate proposal aims to restart the monthly payments to parents — with new requirements, however.

The proposal, called Family Security Act 2.0, was created by Republican Sens. Mitt Romney of Utah, Richard Burr of North Carolina and Steve Daines of Montana, who describe it as a “pro-family, pro-life and pro-marriage plan.”

The proposal follows the expiration of an expanded child tax credit that gave families access to monthly child tax credit payments for the first time. That included $300 per month for each child under age 6 and $250 per month for each child ages 6 through 17.