Bill 119 HR 571, also known as the Means-Testing Child's Insurance Benefits Act, aims to make changes to title II of the Social Security Act. The bill proposes means-testing certain child's insurance benefits, which would involve evaluating the financial need of the child or their family before determining eligibility for benefits.
Under the current system, child's insurance benefits are provided to children of deceased, disabled, or retired workers who are eligible for Social Security benefits. These benefits are typically paid until the child reaches the age of 18, or 19 if they are still in high school.
The proposed legislation would require families to undergo a means test to determine if they meet certain income or asset thresholds in order to qualify for these benefits. This means that families with higher incomes or assets may no longer be eligible for child's insurance benefits, while those with lower incomes or assets would still receive the benefits.
Proponents of the bill argue that means-testing child's insurance benefits would ensure that the limited resources of the Social Security program are directed towards those who are most in need. They believe that this would help to sustain the program for future generations and prevent it from becoming financially unsustainable.
Opponents of the bill, however, argue that means-testing could potentially harm families who may have moderate incomes but still rely on these benefits to support their children. They believe that the current system, which provides benefits to all eligible children regardless of their family's financial situation, is more equitable and ensures that all children have access to the support they need.
Overall, Bill 119 HR 571 represents a significant proposed change to the Social Security Act, specifically in regards to child's insurance benefits. The outcome of this legislation could have far-reaching implications for families who rely on these benefits to support their children, and it will be important to closely monitor the debate and potential impacts of this bill as it progresses through Congress.