Working Parents Tax Relief Act of 2026
To amend the Internal Revenue Code of 1986 to increase the amount of the earned income tax credit for parents of young children.
The Working Parents Tax Relief Act of 2026 aims to increase the earned income tax credit for parents with young children, offering them more financial support. This bill proposes to amend the Internal Revenue Code to boost the tax credit, which can help families with lower incomes afford the rising costs of childcare and other necessities.
This change would primarily affect working parents with young children, providing them with increased financial assistance. By increasing the tax credit, eligible families could see more money in their pockets, potentially reducing the financial strain of raising young children.
HB8305 was introduced on April 15, 2026, by Kristen McDonald Rivet, a Democrat. It was then referred to the House Committee on Ways and Means for further consideration. As of now, it is in the initial stages of the legislative process.