U.S. Senators Mitt Romney (R-UT) and Marco Rubio (R-FL) reintroduced the New Parents Act, legislation which creates a voluntary option for paid parental leave by allowing new parents to use a portion of their Social Security after the birth or adoption of a child. The bill also provides parents the flexibility to use their benefits in a way that works best for their household by allowing parents to combine their leaves, or transfer them to one parent. Many parents, especially those with low incomes, will be able to finance three months of leave, or longer, under the New Parents Act. A one pager of the bill, which the senators first introduced last Congress, is available here.
“American families are facing greater financial strain, worsened by the COVID-19 pandemic, and marriage and birth rates are at an all-time low,” Romney said. “In Utah, and throughout the United States, a majority of working parents do not get paid when they take time off from work after the birth or adoption of a child, which can mean depleted savings, credit card debt, and student loan defaults. We are reintroducing the New Parents Act in order to give parents the flexibility to take time off from work with pay during the first weeks of their children’s lives, without growing our national debt, raising taxes, or creating a new entitlement program.”
“Our economic policies need to reflect our values, and right now far too many young, working families are falling behind,” Rubio said. “We can support working and stay-at-home moms and dads alike without raising taxes or expanding federal bureaucracy. Our New Parents Act would give young families much-needed flexibility in how they choose to use their money and support their family.”