MULTI-BILLION Dollar Economic Stimulus Plan Proposed by Child Support Payment Corporation
Economic plan to provide for payment of Child Support to benefit more than 10 million needy families. The plan also proposes reductions in State deficits they are now facing.
(PRWEB) January 22, 2003 - CHILD-SUPPORT-PAYMENT) Multi-
Billion Dollar Economic Stimulus
Plan Proposed by Child Support Payment Corporation
Business Editors & Political/Government Writers
AUSTIN, Texas--(BUSINESS WIRE)--Jan. 14, 2003--Child Support Payment Corporation (www. childsupportpaymentcorporation. com) has proposed a stimulus package with the issuance of up to $100 billion dollars in federally insured child support bonds to provide economic security for America's children.
This plan could be included with the proposals to Congress that would insure that no child is left behind.
The formation of a Child Support Trust Fund to issue the bonds would provide for up to $35 billion dollars in payments to the federal government, $35 billion dollars in payments to the states and $30 billion dollars to more than 10 million needy families. The funding of the project is proposed to come under the Department of Health and Human Services and the Federal Reserve Bank and the proposed structure is similar to Sallie Mae (NYSE:SLM).
Child Support Payment Corporation has contracted with Deloitte Touche for auditing services and Automatic Data Payment Services (NYSE:ADP) for payment services. The program is designed for court-ordered payments that are collected and distributed by a state disbursement unit. The collections are made by the various state agencies. Child Support Payment Corporation is presently negotiating with various financial institutions to implement an initial pilot
Program in the United States.
Child Support Payment Corporation is a facilitator of child
Support payments by contracting with various private and public
Entities to guarantee the payment of child support payments from a
CONTACT: Child Support Payment Corporation, Austin