RAISE Act of 2023

The RAISE Act of 2023 creates a new refundable tax credit for teachers and early childhood educators working in schools with high student poverty rates. The credit starts at $1,000, with additional amounts up to $14,000 (or $9,000 for early childhood educators without bachelor's degrees) based on the school's poverty ratio. The bill also increases the educator expense deduction from $250 to $500 and establishes mandatory funding for local schools that maintain or increase teacher salaries. These provisions directly affect K-12 teachers, early childhood educators, and their schools, with specific eligibility requirements and protections against employer retaliation regarding the credit.