Tax Credits for Critical Employees and Permanent Child Tax Credit Changes.
This act introduces a new $3,500 tax credit for specific professional groups, including healthcare workers, emergency services, and childcare providers, if they work full-time in designated opportunity zones. Additionally, it permanently increases and modifies the child tax credit, raising its value to $3,500 ($4,500 for children under 6) and removing certain limitations, potentially providing more financial support for families.
Key points
New $3,500 tax credit for critical employees like nurses, first responders, firefighters, police officers, and childcare providers working in qualified opportunity zones.
Permanent increase of the child tax credit to $3,500 per child ($4,500 for children under 6), offering more financial aid to families.
Modifications to the refundable portion of the child tax credit, which may affect the amount of money families receive back.
The critical employee credit is temporary and expires three years after the act's enactment.
Introduced
Additional Information
Print number: 119_HR_782
Sponsor: Rep. James, John [R-MI-10]
Process start date: 2025-01-28