Bill > HR3769

This bill aims to modify the Internal Revenue Code to exclude certain dependent income when calculating modified adjusted gross income (MAGI) for determining eligibility for premium tax credits. Specifically, the bill allows for the exclusion of wages or self-employment earnings for dependents who are either under 18 years old or under 24 years old and engaged in educational, job-training, or apprenticeship programs. The exclusion has a limitation: it cannot exceed 15% of the taxpayer's modified adjusted gross income. For taxpayers in states that have not expanded Medicaid, the income exclusion is further restricted to ensure it does not reduce household income below 100% of the federal poverty line. The bill also includes provisions for additional reporting requirements to track these income exclusions. The changes would apply to tax credits and advance payments for taxable years beginning after the enactment of the Act, potentially making health insurance premiums more affordable for families with working dependents by reducing their calculated household income.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/3769/all-info