To amend the Internal Revenue Code of 1986 to establish a refundable childhood education tax credit with monthly advance payments.

This bill would create a new federal tax credit of $667 per month for each child aged 2 to 4 who lives with the taxpayer, receives unpaid care from the taxpayer, and is enrolled in an early childhood education program, including licensed private pre-kindergarten. The credit would be refundable and paid in advance each month by the IRS, with the amount adjusted for inflation after 2025. The credit would phase down for households with income above 300 percent of the federal poverty line. Taxpayers would renew eligibility each year, and the bill sets rules for competing claims, repayment of excess payments, protection of payments from garnishment and offset, and penalties for fraudulent claims.

Full text and official record on Congress.gov

Sponsors

• Cleo Fields Democrat sponsor
• 0 cosponsors