This paper investigates a possible incentive from the Bolsa Família Program to increase the fertility of its beneficiaries due to its rules, according to which the amount of funds transferred depends on the number of family children. The differential of this study lies in the analysis of this impact over a longer period of exposure of the beneficiaries to the effects of the Bolsa Família Program. Applies the covariates selection algorithm proposed by Imbens (2014) and the method of Propensity Score Matching. The results showed that the Bolsa Família Program generates little incentive to the generation of the second child, being the Midwest and Northeast regions had the highest impact values.