RAISE Working Families Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Oct 26, 2020)
Rebuild Americans' Income to Strengthen and Empower Working Families Act or RAISE Working Families Act
This bill allows a new refundable income tax credit for individual taxpayers (to be known as the Middle Class Tax Credit) equal to the lesser of $500 ($1,000 for individuals filing joint returns), or the taxpayer's earned income for the taxable year. The amount of the credit is reduced by 2.5% percent of the taxpayer's modified adjusted gross income that exceeds $50,000 ($100,000 for individuals filing joint returns).
What just happenedOct 26, 2020
Read twice and referred to the Committee on Finance.
Who’s behind it
- Introduced in SenateOct 26, 2020
- Oct 26, 2020IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Oct 26, 2020IntroReferral10000
Introduced in Senate