Lower Your Taxes Act

The Lower Your Taxes Act would significantly expand tax benefits for low- and middle-income families by increasing the Earned Income Tax Credit (EITC) and establishing a new monthly child tax credit with advance payments. The EITC would provide higher credit percentages (up to 90% of earned income), increase income thresholds, and lower eligibility age to 18. The new child tax credit would provide $300 monthly for children under 6 and $350 monthly for children 6-17, with income limits of $150,000 for joint filers. The bill also includes provisions to treat state non-refundable EITC as refundable, modify capital gains tax rates for high-income taxpayers, and increase corporate tax rates.