Summary of HR 2763 - American Family Act

Bill Overview

Bill Number: HR 2763

Title: American Family Act

Status: Introduced in House

Introduced Date: April 09, 2025

Primary Sponsor: Rosa L. DeLauro

Cosponsors: 100+ members of Congress

Purpose and Intent

The American Family Act aims to enhance financial support for families with children by expanding and improving the existing Child Tax Credit (CTC). The bill seeks to provide greater economic security for families, reduce child poverty, and promote the well-being of children across the United States.

Key Provisions

• Expansion of the Child Tax Credit: The bill proposes to increase the maximum CTC amount and make it fully refundable, ensuring that families with little or no income can benefit.
• Monthly Payments: Families would receive monthly payments rather than a lump sum at tax time, providing more immediate financial relief.
• Eligibility Adjustments: The bill would broaden eligibility criteria, allowing more families to qualify for the CTC, including those with older children.
• Increased Income Thresholds: The income thresholds for receiving the full credit would be adjusted to accommodate more families, particularly those in the lower and middle-income brackets.

Who Would Be Affected?

• Families with Children: The primary beneficiaries of the American Family Act would be families with children, particularly those in low- to moderate-income brackets.
• Children: The bill aims to directly impact child poverty rates and improve the overall quality of life for children in affected households.
• State and Local Economies: By providing families with additional financial resources, the bill is expected to stimulate local economies through increased spending.

Legislative Process and Timeline

• Introduced in House: April 09, 2025
• Referred to Committee: The bill has been referred to the House Committee on Ways and Means for further consideration.

Related Legislation

• S 1393: A companion bill in the Senate that mirrors the provisions of HR 2763, aiming to achieve similar goals regarding family financial support.

Conclusion

The American Family Act represents a significant legislative effort to bolster financial support for families with children, aiming to reduce child poverty and enhance economic stability. As it progresses through the legislative process, its potential impacts on families and the economy will be closely monitored.