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.
Status:
Introduced
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