July 30, 2019, 12:41 PM; Updated: July 30, 2019, 4:24 PM
New parents would have access to $5,000 through a child tax credit that could serve as pay while they are out on leave, under a new proposal from Sens. Bill Cassidy and Kyrsten Sinema.
The long-anticipated bipartisan proposal would give individuals the option of getting cash immediately upon the birth or adoption of a child. Parents who elect to take the benefit would in turn offset their child tax credit by $500 annually over the following 10 years, according to a summary of the plan.
The parental benefit proposal from Cassidy (R-La.) and Sinema (D-Ariz.) is the first to...