summary
Introduced
10/12/2023
10/12/2023
In Committee
10/25/2023
10/25/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to expand the earned income and child tax credits, and for other purposes.
AI Summary
This bill expands the earned income tax credit (EITC) by increasing the credit percentage, phaseout percentage, and income amounts. It also establishes a refundable child tax credit with monthly advance payments and a credit for certain other dependents. Additionally, the bill limits the application of capital gains rates for high-income taxpayers and increases the rates of certain corporate taxes.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred to the House Committee on Ways and Means. (on 10/25/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/5953/all-info |
| BillText | https://www.congress.gov/118/bills/hr5953/BILLS-118hr5953ih.pdf |
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