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Lower Your Taxes Act: Expanded Credits for Families and Workers

This act introduces significant changes to the tax system, aiming to reduce the burden on families and lower-income individuals. Key changes include expanding earned income and child tax credits, and implementing monthly advance payments for the child tax credit. These changes are intended to be funded by increased taxes on large corporations and high-income capital gains.
Key points
Increased Earned Income Tax Credit for working individuals, meaning more money for eligible taxpayers.
New refundable child tax credit with monthly advance payments, providing regular financial support for families with children.
Higher taxes for large corporations and very high-income capital gains to fund the credits and reduce national debt.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_463
Sponsor: Rep. Sykes, Emilia Strong [D-OH-13]
Process start date: 2025-01-15
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Lower Your Taxes Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_463.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-01-15.

What are the main provisions?

Key points include:

  • Increased Earned Income Tax Credit for working individuals, meaning more money for eligible taxpayers.
  • New refundable child tax credit with monthly advance payments, providing regular financial support for families with children.
  • Higher taxes for large corporations and very high-income capital gains to fund the credits and reduce national debt.
What is the specific legal status?

The current status is Introduced.

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 Rep. Sykes, Emilia Strong [D-OH-13].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Taxes Family Benefits