EITC Modernization Act

Summary

EITC Modernization Act This bill expands eligibility for the earned income tax credit (EITC), provides a minimum EITC amount of $1,200 (subject to limitations), and allows an individual to receive the EITC as monthly payments. The bill also establishes a grant program for tax return preparation assistance for low-income individuals. Under the bill, EITC eligibility is expanded to include a student who meets certain requirements and an individual with a qualifying dependent, which includes a qualifying child, dependent who attains the age of 65 within the tax year and for whom the individual may claim a tax deduction for a personal exemption, and dependent or spouse who is physically or mentally incapable of caring for themselves and meets certain residency requirements. Further, for an individual who does not have a qualifying dependent, the bill lowers the EITC eligibility age to 18 years (from 25 years) and eliminates the maximum age limit. The bill allows an individual who meets certain requirements to receive the EITC in monthly payments and provides for a one-time increase in the first monthly payment. The bill also provides a new parent (through birth or adoption) an increase in their monthly EITC payments (subject to limitations). Finally, the bill establishes a grant program, which is similar to the existing Volunteer Income Tax Assistance program and provides funding for tax return preparation assistance for low-income taxpayers and members of underserved populations.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 31 January 2025

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 31 January 2025

   Introduced

   Introduced in House

   Source: IntroReferral

3. 31 January 2025

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

2 official files

• Introduced in House

  Introduced in House · EN · 31 January 2025

  DownloadOpen at official source

• Introduced in House

  summary · EN · 31 January 2025

  Open at official source

Sponsors

• Rep. Watson Coleman, Bonnie [D-NJ-12] · D · Sponsor
• Rep. Hayes, Jahana [D-CT-5] · D · Sponsor
• Rep. McIver, LaMonica [D-NJ-10] · D · Sponsor
• Del. Norton, Eleanor Holmes [D-DC-At Large] · D · Sponsor
• Rep. Bishop, Sanford D., Jr. [D-GA-2] · D · Sponsor
• Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4] · D · Sponsor
• Rep. Thompson, Bennie G. [D-MS-2] · D · Sponsor
• Rep. Clarke, Yvette D. [D-NY-9] · D · Sponsor
• Rep. Cherfilus-McCormick, Sheila [D-FL-20] · D · Sponsor
• Yassamin Ansari · D · Sponsor
• Kristen McDonald Rivet · D · Sponsor
• Rep. Wilson, Frederica S. [D-FL-24] · D · Sponsor
• Rep. Kamlager-Dove, Sydney [D-CA-37] · D · Sponsor
• Rep. Mfume, Kweisi [D-MD-7] · D · Sponsor
• Rep. Foushee, Valerie P. [D-NC-4] · D · Sponsor
• Rep. Brown, Shontel M. [D-OH-11] · D · Sponsor
• Rep. McClellan, Jennifer L. [D-VA-4] · D · Sponsor
• Rep. Tokuda, Jill N. [D-HI-2] · D · Cosponsor
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.