Bill > HR2338

This bill aims to expand and improve the Earned Income Tax Credit (EITC), a tax benefit for low to moderate-income workers, by making several significant changes. The bill would allow students to qualify for the EITC, modify age requirements (lowering the minimum age to 18), and treat care-giving and learning activities as compensated work. It increases the credit amount, particularly for unmarried individuals with two or more children, and creates an advance payment program that would allow eligible taxpayers to receive monthly payments of up to 75% of their estimated annual EITC. The bill also establishes an online portal and one-on-one consultation services to help taxpayers understand and access the credit, and includes an outreach pilot program to educate people about the EITC. Additionally, the legislation expands the definition of qualifying dependents to include more family members, such as older relatives and individuals with disabilities. The changes would take effect for tax years beginning after December 31, 2024, and include provisions for annual inflation adjustments to ensure the credit's value keeps pace with economic changes.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/2338/all-info