As the U.S. Senate has failed to extend the expanded Child Tax Credit, millions of low- and no-income families are at risk of falling back into poverty. But now, Rep. Rashida Tlaib (D-MI) has introduced the End Child Poverty Act (ECPA) to create a universal, monthly child allowance of $393 per child.

The People’s Policy Project estimates that this bill would cut child poverty by 64% and cut deep child poverty by 70%.

The End Child Poverty Act would be administered by the Social Security Administration and would provide more robust benefits than the current Child Tax Credit and the child provisions of the Earner Income Tax Credit. It would also cover the lowest-wealth families in the country, who are left out by this tax credit system.

Since each child will be automatically enrolled at birth when they apply for their Social Security Number, there is no need for annual paperwork. This benefit will simply continue every month until a child’s 19th birthday, ensuring that families and children have an opportunity to thrive.

Programs like the ECPA have been a proven success in countries like Denmark, Sweden, Norway, and Finland, which have some of the lowest childhood poverty rates in the world.

The People’s Policy Project’s Matt Bruenig calls the End Child Poverty Act “by far the best child allowance proposal introduced in Congress.” We know that the most effective and efficient way to reduce poverty and stimulate the economy is by directly giving people money—so that’s what our federal government should be doing.