HR 4653
First-Time Parents Tax Credit Act
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill creates a refundable tax credit for ‘first-time parents,’ defined as taxpayers who haven't claimed the credit before and are the parent of a newborn or adopted child during the tax year, or the non-custodial parent of a child born or adopted the previous year. The credit is $1,250 per eligible new parent, and twice that amount for two eligible parents filing jointly. The credit is designed to provide financial assistance to families welcoming a new child.
Key provisions
- Establishes a refundable tax credit for first-time parents.
- The credit is $1,250 per eligible new parent.
- The credit is doubled for two eligible parents filing jointly.
- A taxpayer must not have claimed the credit in a prior year to be eligible.
- Eligibility includes being the parent of a qualifying child born or adopted during the tax year, or the non-custodial parent of a child born or adopted the previous year.
- The credit is available beginning in 2026.
Who is affected
- Taxpayers
- Parents of newborns or adopted children
- Non-custodial parents of children
Notable changes
- Creates a new tax credit specifically for first-time parents.
- Defines ‘eligible new parent’ with specific criteria regarding prior credit claims and parental status.
Sponsors
Official sponsors from legislative records.
Primary sponsor
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119th CONGRESS — 1st Session
H. R. 4653
IN THE HOUSE OF REPRESENTATIVES
A BILL
To amend the Internal Revenue Code of 1986 to establish a refundable tax credit for first-time parents.
This Act may be cited as the First-Time Parents Tax Credit Act
.
who has not claimed the credit in a prior taxable year, and
the parent of a qualifying child (as defined in section 152(c)) who was born or adopted during the taxable year, or
the non-custodial parent of a child who was born or adopted in the taxable year immediately preceding the current taxable year.
For purposes of this section, the term non-custodial parent
means an individual—
whose name appears on the birth certificate of the child with respect to whom a credit is allowed under subsection (a), and
Section 6211(b)(4) of the Internal Revenue Code of 1986 is amended by inserting 36C,
after 36B,
.
Section 1324(b)(2) of title 31, United States Code, is amended by inserting 25E,
after 25A,
.