The idea is that this would replace the Child Tax Credit, but it’s much pricier.
Campus Reform reports:
NYU prof’s congressional campaign promises free money to familiesA New York University professor is running for Congress in the 12th District of New York with a platform plank of paying families $500 per child, per month.An adjunct assistant business professor, Democrat Suraj Patel’s campaign introduces a policy called the Universal Child Dividend.This policy would entail the federal government giving families $500 monthly per child, ages 0-5, and $350 monthly per child, ages 6-17. Patel’s campaign clarified on its website that this program would replace the Child Tax Credit.However, the Child Tax Credit relieves families of up to $2,000 in taxes per child every year, making a large, financial difference between the two programs, with the Universal Child Dividend being objectively more expensive for the American taxpayers.In email correspondence with Campus Reform, Vikas Patel, the policy director for Patel’s campaign, confirmed that it is not possible to say how much the Universal Child Dividend will cost yet.“It’s really impossible to answer how much the child dividend would cost without dynamic scoring- something that the Congressional Budget Office would provide us with if Suraj won the election and introduced the bill,” Patel said.He went on to explain that “the static cost of the child dividend would be $352,380,000 per year.” Patel also indicated that, in order to pay for this program, parts of the Trump tax-cuts would have to be rolled back.
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