Bill > S3596

This bill, titled the "Stronger Start for Working Families Act," proposes to amend the Internal Revenue Code of 1986 to change the minimum amount of earned income a family needs to qualify for the refundable portion of the Child Tax Credit. Specifically, it would lower the earned income threshold from $3,000 to just $1, meaning families with very little earned income would be eligible for this credit. The bill also makes a conforming amendment to remove a specific paragraph related to this threshold and states that these changes would take effect for tax years beginning after December 31, 2025. The Child Tax Credit is a tax credit available to taxpayers with qualifying children, and the refundable portion means that if the credit is more than the amount of tax a family owes, they can receive the difference as a refund.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/3596/all-info