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New Parent Tax Credit: Financial Support and Changes to Child Care Benefits.

This act introduces a new, refundable tax credit for parents, aiming to provide financial support to families with children under 13. Eligible parents could receive $6,000 ($12,000 for joint filers) annually, with the option of receiving monthly advance payments. Concurrently, the existing Child and Dependent Care Credit will be terminated.
Key points
Introduction of a new tax credit of $6,000 ($12,000 for joint filers) for eligible parents of children under 13.
Option to receive monthly advance payments of the credit.
Requirement for a minimum earned income, calculated based on the minimum wage, to qualify for the credit.
Mandatory valid identification numbers (e.g., Social Security Number) for parents and qualifying children.
Termination of the existing Child and Dependent Care Credit for taxable years beginning after December 31, 2021.
The credit will be protected from reduction or offset by other federal debts.
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Expired
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Additional Information
Print number: 117_S_1426
Sponsor: Sen. Hawley, Josh [R-MO]
Process start date: 2021-04-28
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Parent Tax Credit Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1426.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-04-28.

What are the main provisions?

Key points include:

  • Introduction of a new tax credit of $6,000 ($12,000 for joint filers) for eligible parents of children under 13.
  • Option to receive monthly advance payments of the credit.
  • Requirement for a minimum earned income, calculated based on the minimum wage, to qualify for the credit.
  • Mandatory valid identification numbers (e.g., Social Security Number) for parents and qualifying children.
  • Termination of the existing Child and Dependent Care Credit for taxable years beginning after December 31, 2021.
  • The credit will be protected from reduction or offset by other federal debts.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Hawley, Josh [R-MO].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Taxes Family Benefits