NEW YORK, NEW YORK – MARCH 18: Democratic Congressional Candidate Jack Schlossberg speaks during Fortune CEO Initiative New York Dinner at Ci Siamo on March 18, 2026 in New York City. Roy Rochlin/Getty Images for Fortune Media
Jack Schlossberg, a Democratic congressional contender in New York, is presenting a fresh strategy aimed at boosting the IRS Child Tax Credit and implementing monthly payments instead of annual ones.
According to Schlossberg's campaign, these added financial assistance payments — a key aspect of his "Monthly Moms Bonus" concept — would be partly supported by the $1 billion that some Senate Republicans are looking to allocate towards renovations of the White House State Ballroom. The rest of the funding would come from proposed taxation adjustments, the campaign states.
The suggested GOP funding for upgrades to White House security has not yet secured Senate approval, and it’s still uncertain if it will reach President Donald Trump’s desk to be enacted into law.
NEW YORK, NEW YORK – MARCH 18: Democratic Congressional Candidate Jack Schlossberg speaks during Fortune CEO Initiative New York Dinner at Ci Siamo on March 18, 2026 in New York City.Roy Rochlin/Getty Images for Fortune Media
Schlossberg, a grandson of former President John F. Kennedy, is anticipated to deliberate on this idea at a campaign gathering on Mother's Day, accompanied by his mother, Caroline Kennedy.
"It's Mother's Day, and the initial thing I did was express my love to my mother. Following that, I aim to provide a substantial child tax credit that promptly reaches NYC families, rather than waiting a year — one that is directly deposited each month into their accounts for immediate use," Schlossberg conveyed in a written statement.
The current annual Child Tax Credit provides a maximum of $2,200 for each eligible child, as per the IRS.
The initial stage of Schlossberg’s proposed plan involves depositing those payments directly into the bank accounts of qualifying parents on a monthly basis.
In the subsequent stage, Schlossberg intends to "reinstate and broaden the Child Tax Credit to the standards implemented during the COVID-era American Rescue Plan," offering a credit of $300 monthly for each qualifying child under six years old and $250 monthly for children aged six and above.
Schlossberg's proposition would be applicable to all U.S. taxpayers who meet the requirements for the tax credit.
Schlossberg is among the several Democratic hopefuls in New York’s 12th Congressional District vying for the seat presently held by Rep. Jerry Nadler, who is retiring. The district encompasses Manhattan locales such as Midtown, the Upper West Side, and the Upper East Side.
Nadler has thrown his support behind his former aide, New York State Assemblyman Micah Lasher. Other contenders listed on the June 23 primary ballot are New York State Assemblyman Alex Bores, Lincoln Project co-founder George Conway, and public health researcher Nina Schwalbe.
Sourse: abcnews.go.com