New Paid Leave Proposal Expands Tax Funding for Parents (1)

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 ...