,i  #aag? ,,congress  #a/ ,session  ,h4 
,r4 #fjea  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,novemb] #ah1 #bjba   
,ms4 ,tlaib 7= h]self1 ,mr4 ,g>ca (     
,ill9ois1 ,ms4 ,ocasio-,cortez1 ,ms4    
,pressley1 ,ms4 ,norton1 ,ms4 ,velzquez1
 ,mr4 ,mfume1 ,ms4 ,jackson ,lee1 ,mr4  
,b[man1 ,mr4 ,pocan1 ,mrs4 ,c>olyn ,b4  
,maloney ( ,new ,york1 ,ms4 ,lee (      
,cali=nia1 ,mrs4 ,d+ell1 & ,ms4 ,cl>ke (
 ,new ,york7 introduc$ ! foll[+ bill2   
:i* 0 ref]r$ to ! ,committee on ,ways & 
,means  ,a ,,bill  ,to am5d ! ,int]nal  
,rev5ue ,code ( #aihf to e/abli% a      
refundable tax cr$it to increase !      
take-home pay ( ,am]ican work]s &       
enhance _! f9ancial /ability1 & = o!r   
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,build+ ,our ,opportunities
 to ,survive & ,?rive ,act ( #bjba or ! 
,,boo/ ,act ( #bjba4  #b4 ,e/abli%m5t ( 
middle class tax cr$it  7a7 ,9 g5]al    
,subp>t ,c ( "p ,,iv ( sub*apt] ,a (    
*apt] #a ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$ by ins]t+ aft] section   

#cf ! foll[+ new section3  #cf;,a4      
,middle class tax cr$it  7a7 ,all[ance (
 cr$it  7#a7 ,9 g5]al ,9 ! case ( an    
eligible individual1 !re %all be all[$ z
 a cr$it aga9/ ! tax impos$ by ?is      
subtitle = ! taxable ye> an am\nt equal 
to #c1jjj4  7#b7 ,phase\t ( cr$it ,!    
am\nt ( ! cr$it all[able to ! taxpay] "u
 p>agraph 7#a7 = ! taxable ye> %all be  
r$uc$ 7b n bel[ z]o7 by an am\nt :i*    
be>s ! same ratio to ! am\nt ( ! cr$it  
det]m9$ "u su* p>agraph z--  7,a7 !     
am\nt 7n less ?an z]o7 equal to ! adju/$
 gross income ( ! taxpay] = ! prec$+    
taxable ye> m9us #cj1jjj1 be>s to  7,b7 
#bj1jjj4  7#c7 ,jo9t returns  7,a7 ,9   
g5]al ,= purposes ( det]m9+ ! am\nt ( ! 
cr$it all[$ "u ?is section = any taxable
 ye>1 if a jo9t return 0 fil$ = ! prec$+
 taxable ye> by an eligible individual &
 su* individual's sp\se1 ea* ( ! doll>  
am\nts "u p>agraphs 7#a7 & 7#b7 %all be 
d\bl$4  7,b7 ,m>ri$ individuals ,=      
purposes ( det]m9+ ! am\nt ( ! cr$it    
all[$ "u ?is section = any taxable ye>1 

if an individual 0 m>ri$ dur+ ! prec$+  
taxable ye> 7)9 ! mean+ ( section       
#ggjc71 ?is section %all apply only if a
 jo9t return 0 fil$ = ! prec$+ taxable  
ye> "u section #fjac4  7#d7 ,head (     
h\sehold ,= purposes ( det]m9+ ! am\nt (
 ! cr$it all[$ "u ?is section = any     
taxable ye>1 if a taxpay] fil$ a return 
z a head ( h\sehold = ! prec$+ taxable  
ye>1 ! r$uction ( ! cr$it all[able to ! 
taxpay] "u p>agraph 7#a7 %all be det]m9$
 "u p>agraph 7#b7 by sub/itut+ #hj1jjj =
 #cj1jjj 9 subp>agraph 7,a7 !re(4  7#e7 
,inflation adju/m5ts  7,a7 ,9 g5]al ,9 !
 case ( any taxable ye> aft] #bjba1 ea* 
( ! doll> am\nts "u p>agraphs 7#a71     
7#b71 & 7#d7 %all be increas$ by an     
am\nt equal to--  7i7 su* doll> am\nt1  
multipli$ by  7ii7 ! co/-(-liv+ adju/m5t
 det]m9$ "u section #a7;f77#c7 = !      
cal5d> ye> 9 :i* ! taxable ye> beg9s1   
det]m9$ by sub/itut+ cal5d> ye> #bjbj = 
cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 
!re(4  7,b7 ,r\nd+ ,if any increase     
det]m9$ "u subp>agraph 7,a7 is n a      

multiple ( #ej1 su* increase %all be    
r\nd$ to ! ne>e/ multiple ( #ej4  7b7   
,eligible individual ,= purposes (      
det]m9+ ! cr$it all[$ "u ?is section =  
any taxable ye>--  7#a7 ,9 g5]al ,! t]m 
eligible individual means an            
individual-- 7,a7 :o atta9$ #ah ye>s (  
age be=e ! close ( ! prec$+ taxable ye>1
  7,b7 ^: pr9cipal place ( abode 0 9 !  
,unit$ ,/ates = m ?an "o-half ( ! prec$+
 taxable ye>1  7,c7 :o 0 n a dep5d5t =  
:om a d$uction is all[able "u section   
#aea to ano!r taxpay] = any taxable ye> 
beg9n+ 9 ! same cal5d> ye> z ! prec$+   
taxable ye>1 &  7,d7 :o did n claim !   
b5efits ( section #iaa = ! prec$+       
taxable ye>4  7#b7 ,limitation on       
eligibility ( nonresid5t ali5s ,! t]m   
eligible individual %all n include any  
individual :o is a nonresid5t ali5      
individual = any portion ( ! prec$+     
taxable ye>1 unless su* individual is   
treat$ = su* taxable ye> z a resid5t ( !
 ,unit$ ,/ates = purposes ( ?is *apt] by
 reason ( an election "u subsection 7g7 

or 7h7 ( section #fjac4  7#c7           
,id5tification numb] requirem5t ,no     
cr$it %all be all[$ "u ?is section to an
 eligible individual :o does n include  
on ! return ( tax = ! taxable ye>-- 7,a7
 su* individual's taxpay] id5tification 
numb]1 &  7,b7 if ! individual 0 m>ri$  
dur+ ! prec$+ taxable ye> 7)9 ! mean+ ( 
section #ggjc71 ! taxpay] id5tification 
numb] ( su* individual's sp\se4  7#d7   
,treatm5t ( milit>y p]sonnel /ation$    
outside ( ! ,unit$ ,/ates ,= purposes ( 
subp>agraph 7,a77ii71 ! pr9cipal place (
 abode ( a memb] ( ! ,arm$ ,=ces ( !    
,unit$ ,/ates %all be treat$ z 9 !      
,unit$ ,/ates dur+ any p]iod dur+ :i*   
su* memb] is /ation$ outside ! ,unit$   
,/ates :ile s]v+ on ext5d$ active duty )
 ! ,arm$ ,=ces ( ! ,unit$ ,/ates4 ,=    
purposes ( ! prec$+ s5t5ce1 ! t]m ext5d$
 active duty means any p]iod ( active   
duty pursuant to a call or ord] to su*  
duty = a p]iod 9 excess ( #ij days or = 
an indef9ite p]iod4  7c7 ,taxable ye>   
mu/ be full taxable ye> ,except 9 ! case

 ( a taxable ye> clos$ by reason ( !    
dea? ( ! taxpay]1 no cr$it %all be      
all[able "u ?is section 9 ! case ( a    
taxable ye> cov]+ a p]iod ( less ?an #ab
 mon?s4  7d7 ,re/rictions on taxpay] :o 
improp]ly claim$ cr$it 9 prior ye>      
,rules simil> to ! rules ( section      
#cb7k7 %all apply = purposes ( ?is      
section4  7e7 ,reconciliation ( cr$it & 
advance paym5ts ,! am\nt ( ! cr$it all[$
 "u ?is section = any taxable ye> %all  
be r$uc$ 7b n bel[ z]o7 by ! aggregate  
am\nt ( any advance paym5ts ( su* cr$it 
"u section #gebg;,b = su* taxable ye>4  
4  7b7 ,advance paym5t ( middle class   
tax cr$it  7#a7 ,9 g5]al ,*apt] #gg ( ! 
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by ins]t+ aft] section #gebg;,a ! foll[+
 new section3  #gebg;,b4 ,advance paym5t
 ( middle class tax cr$it  7a7 ,9 g5]al 
,n lat] ?an #f mon?s aft] ! date ( !    
enactm5t ( ! ,build+ ,our ,opportunities
 to ,survive & ,?rive ,act ( #bjba1 !   
,secret>y %all e/abli% a program = mak+ 
advance paym5ts ( ! cr$it all[$ "u      

section #cf;,a on a mon?ly basis        
7det]m9$ )\t reg>d to subsection 7f7 (  
su* section7 to any taxpay] :o-- 7#a7 ! 
,secret>y has det]m9$ w be all[$ su*    
cr$it = ! taxable ye>1 &  7#b7 has made 
an election "u subsection 7c74  7b7     
,am\nt ( advance paym5t  7#a7 ,9 g5]al  
,= purposes ( subsection 7a71 ! am\nt ( 
! mon?ly advance paym5t ( ! cr$it       
provid$ to a taxpay] dur+ ! applicable  
p]iod %all be equal to ! less] (--  7,a7
 an am\nt equal to-- 7i7 ! am\nt ( !    
cr$it :i* ! ,secret>y has det]m9$ w be  
all[$ to su* taxpay] "u section #cf;,a =
 ! taxable ye> end+ 9 su* applicable    
p]iod1 divid$ by  7ii7 #ab1 or  7,b7 su*
 o!r am\nt z is elect$ by ! taxpay]4    
7#b7 ,applicable p]iod ,= purposes ( ?is
 section1 ! t]m applicable p]iod means !
 #ab-mon? p]iod f ! mon? ( ,july ( !    
taxable ye> ?r\gh ! mon? ( ,june ( !    
subsequ5t taxable ye>4  7c7 ,election ( 
advance paym5t ,a taxpay] may elect to  
receive an advance paym5t ( ! cr$it     
all[$ "u section #cf;,a = any taxable   

ye> by includ+ su* election on a timely 
fil$ return = ! prec$+ taxable ye>4  7d7
 ,int]nal ,rev5ue ,s]vice notification  
,! ,int]nal ,rev5ue ,s]vice %all take   
su* /eps z may be appropriate to ensure 
t taxpay]s :o are eligible to receive ! 
cr$it "u section #cf;,a are aw>e ( !    
availability ( ! advance paym5t ( su*   
cr$it "u ?is section4  7e7 ,au?ority ,! 
,secret>y may prescribe su* regulations 
or o!r guidance z may be appropriate or 
necess>y = ! purposes ( c>ry+ out ?is   
section4  4  7c7 ,income disreg>d ,any  
cr$it or refund all[$ or made to any    
individual by reason ( section #cf;,a ( 
! ,int]nal ,rev5ue ,code ( #aihf 7z add$
 by ?is section7 %all n be tak5 into    
acc\nt z income & %all n be tak5 into   
acc\nt z res\rces = purposes ( det]m9+ !
 eligibility ( su* individual or any o!r
 individual = b5efits or assi/ance1 or !
 am\nt or ext5t ( b5efits or assi/ance1 
"u any ,f$]al program or "u any ,/ate or
 local program f9anc$ 9 :ole or 9 "p )  
,f$]al funds4  7d7 ,con=m+ am5dm5ts     

7#a7 ,section #fbaa7;b77#d77;,a7 ( !    
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by ins]t+ #cf;,a1 aft] #cf14  7#b7      
,section #fbac7;g77#b7 ( su* ,code is   
am5d$-- 7,a7 9 subp>agraph 7,f71 by     
ins]t+ or section #cf;,a aft] cr$it71   
7,b7 9 subp>agraph 7,g71 by ins]t+ or   
#cf;,a aft] section #cb1  7,c7 by /rik+ 
subp>agraph 7,k7 & ins]t+ ! foll[+3     
7,k7 an omission ( in=mation requir$ by 
section #cb7k77#b7 or #cf7;e7 or an     
entry on ! return claim+-- 7i7 ! cr$it  
"u section #cb = a taxable ye> = :i* !  
cr$it is disall[$ "u subsection 7k77#a7 
!re(1 or  7ii7 ! cr$it "u section #cf;,a
 = a taxable ye> = :i* ! cr$it is       
disall[$ "u subsection 7d7 !re(1  2 &   
7,d7 9 subp>agraph 7,l71 by ins]t+      
#cf;,a1 aft] #cb14  7#c7 ,! table (     
sections = subp>t ,c ( "p ,,iv (        
sub*apt] ,a ( *apt] #a ( su* ,code is   
am5d$ by ins]t+ aft] ! item relat+ to   
section #cf ! foll[+ new item3  ,sec4   
#cf;,a4 ,middle class tax cr$it4  4     
7#d7 ,! table ( sections = *apt] #gg (  

su* ,code is am5d$ by ins]t+ aft] ! item
 relat+ to section #gebg;,a ! foll[+3   
,sec4 #gebg;,b4 ,advance paym5t ( middle
 class tax cr$it4  4  7e7 ,effective    
date ,! am5dm5ts made by ?is section    
%all apply to taxable ye>s beg9n+ aft]  
,decemb] #ca1 #bjbj4  #c4 ,s5se ( !     
,h\se ( ,repres5tatives ,x is ! s5se ( !
 ,h\se ( ,repres5tatives t ! co/s (     
c>ry+ out ?is ,act & ! am5dm5ts made by 
?is ,act %\ld be fully (fset ?r\gh--    
7#a7 ! repeal ( ,public ,law #aae-ig1 ) 
! exception ( any provisions or am5dm5ts
 "u su* ,public ,law t provide relief to
 taxpay]s ) less ?an #ajj1jjj 9 annual  
income2 &  7#b7 a fee1 9 su* am\nt z is 
det]m9$ appropriate by ! ,secret>y ( !  
,treasury = purposes ( (fsett+ ! co/s ( 
c>ry+ out ?is ,act & ! am5dm5ts made by 
?is ,act1 to be assess$ on any f9ancial 
in/itution t has total consolidat$      
assets ( m ?an #ej1jjj1jjj1jjj4