H.R. 7547 · 118th Congress
Young Adult Tax Credit Act
- Stage
- In committee
- Sponsor
- Morgan McGarvey
- Introduced
- 2024-03-05
- Latest action
- 2024-03-05 · Introduced in House
Summary
Young Adult Tax Credit Act
This bill allows a refundable young adult tax credit and a monthly advance payment of such credit. The bill defines young adult as an individual who is at least age 18, but not yet 25, and is either a citizen, national, or resident of the United States.
The amount of such credit is the sum of $500 for each taxpayer or taxpayer dependent who is a young adult in any calendar month.