HR 8305
Working Parents Tax Relief Act of 2026
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Bill overview
The Working Parents Tax Relief Act of 2026 aims to provide greater tax relief to families with young children. Specifically, it increases the percentages used to calculate the Earned Income Tax Credit (EITC) for eligible individuals with qualifying children who have not yet reached age 4. The bill also allows for monthly payments of refunds related to these increased EITC percentages. This would provide a larger tax credit for families with young children.
Key provisions
- Increases the EITC percentage for individuals with one qualifying child under age 4 by 42.24 percentage points.
- Increases the EITC percentage for individuals with two or more qualifying children under age 4 by 30.07 percentage points per youngest child.
- Increases the EITC phaseout percentage for individuals with qualifying children under age 4 by 5 percentage points per youngest child.
- Establishes a program for taxpayers to receive refunds related to the increased EITC in monthly installments.
Who is affected
- Families with young children
- Low-to-moderate income taxpayers
- Taxpayers claiming the Earned Income Tax Credit
Notable changes
- Increases the EITC for families with young children.
- Provides a monthly payment option for EITC refunds.
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119th CONGRESS — 2d Session
H. R. 8305
IN THE HOUSE OF REPRESENTATIVES
A BILL
To amend the Internal Revenue Code of 1986 to increase the amount of the earned income tax credit for parents of young children.
This Act may be cited as the Working Parents Tax Relief Act of 2026
.