As Romney leaves the Senate, he hopes to influence future family policy

SALT LAKE CITY — Families are set to face a tax increase at the end of next year because of the expiration of many of the Trump-era tax cuts. If the law lapses, families will receive a $1,000 tax credit per child instead of the current $2,000 per child.

But many politicians — including both Vice President Kamala Harris and former President Donald Trump — have said they want to give more money back to families to help with the cost of having and raising children. But so far, Congress hasn't acted on the promise of delivering more assistance for families.

Sen. Mitt Romney has spoken out on this issue throughout the time he's been in the Senate. His first and only Senate term is set to end in January, but Romney is introducing legislation with the hope it will influence the debate on the child tax credit after he leaves office.

Romney says his plan, the Family Security Act, treats stay-at-home and working parents equally, promotes marriage and encourages work. He also says it's deficit neutral — meaning it includes tax offsets that would raise taxes for some taxpayers.

The legislation would also provide a tax credit for pregnant mothers, who could receive monthly payments of up to $700 after 20 weeks of pregnancy.

"Throughout my term, I've fought for policies that support families raising kids. I'm finally introducing my Family Security Act— legislation to expand the (child tax credit) in a fiscally-responsible way. This should be the starting point for CTC negotiations in 2025," Romney said in a post on X.

With many of the provisions from 2017′s Tax Cuts and Jobs Act expiring next year, taxes will go up for most individuals and businesses unless Congress acts, so taxes are expected to be a hot topic for federal policymakers in 2025.

What would Romney's Family Security Act do?

Romney's plan would:

• Increase the child tax credit to $4,200 for families with children younger than 5, and $3,000 for families with a child between ages 6-17. Families could claim the credit for up to six children, and choose to get payments monthly.
• Extend to pregnant mothers a tax credit of up to $2,800, which could also be paid in monthly installments starting at 20 weeks.
• Provide benefits for families who earn at least $20,000 a year. The credit would start phasing out at $200,000 for single filers and $400,000 for couples.
• Pay for the cost of an extended child tax credit by simplifying the earned income tax credit, and through other offsets like capping state and local tax deductions at $30,000 and eliminating the head of household tax filing status.
• Work to eliminate the marriage penalty for families that receive the EITC.

"When the Tax Cuts and Jobs Act of 2017 expires next year, the Child Tax Credit will be cut in half — leaving federal family policies inadequate, unpredictable, and scattered across the tax code," Romney said in a statement.

"We must renew our commitment to support families raising children, and I urge my colleagues of the next Congress to do so in a fiscally responsible manner," he said.

Nikhita Airi, a research associate at the Tax Policy Center, wrote about an earlier version of Romney's Family Security Act, that also eliminated the head of household tax filing status. She said the change would raise taxes for some single-parent households.

Under the head of household status, "qualifying single parents can get a larger standard deduction, lower marginal tax rates, and increased eligibility for education and retirement savings credits than those who use single filing status," she wrote.

But a staff member from Romney's office said eliminating the head of household filing status is one way to reduce the marriage penalties found in the federal tax code, and said its benefits mostly go to higher income households.

Pro-life groups praise Romney's plan

In a statement to the Deseret News, Romney pointed out that Utah families would stand to gain from these changes.

"Utah — out of all 50 states — has the highest number of children in each family," he said. "And in today's economy, families are facing great financial strain. Congress should be looking for ways to support families raising kids, and increasing the Child Tax Credit will allow for parents to better plan for family expenses throughout the year.

"Importantly, my proposal creates a new tax credit for expectant parents starting mid-pregnancy to help tackle the expenses that start before a baby is born," he continued.

Romney's plan is gaining praise from pro-family and pro-life groups, including for his proposal to start providing assistance to pregnant women that could be paid out monthly.

Family Policy expert Lyman Stone called Romney's plan "an excellent proposal" in a post on X.

"It dramatically reduces marriage penalties in the EITC. It values fetal life, not just babies once they have their SSN. And it represents a huge (and not ruinously work-discouraging) expansion in support for family and childbearing," he wrote.

Marilyn Musgrave, a vice president at Susan B. Anthony Pro-Life America, said about the bill, "We applaud Sen. Romney for introducing the Family Security Act. Building a culture of life takes creativity and rethinking the status quo. The Family Security Act takes great strides towards this culture by providing support for parents of unborn children."

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