HR. 463In Committee
Lower Your Taxes Act
Increase the earned income tax credit, replace the child tax credit with a monthly child allowance, create a dependent credit, limit capital gains rates for high earners, and raise certain corporate taxes
Plain-English overview
What this bill does
Increase the earned income tax credit, replace the child tax credit with a monthly child allowance, create a dependent credit, limit capital gains rates for high earners, and raise certain corporate taxes
Key points
- Establish dependent tax credit
- Increase earned income tax credit
- Replace child tax credit
- Increase corporate taxes
Current status
Where it stands
Status
In Committee
Latest action
2025-01-15 — Referred to the House Committee on Ways and Means.
Related context
Topics and policy areas
undefinedIncome tax creditsIncome tax ratesInflation and pricesState and local taxationTax treatment of familiesTaxation