Bill
S 2082
Overview: S 2082, Relates to a working families tax credit, REPORTED AND COMMITTED TO FINANCE, Introduced on June 12, 2025Purpose and Intent: The main goal of this bill is to provi
Overview: S 2082, Relates to a working families tax credit, REPORTED AND COMMITTED TO FINANCE, Introduced on June 12, 2025
Purpose and Intent: The main goal of this bill is to provide tax relief and financial assistance to low- and moderate-income working families. The legislation aims to help offset the rising costs of living and support economic security for these households.
Key Provisions:
- Establishes a new "Working Families Tax Credit" of up to $4,000 for individuals and $8,000 for married couples filing jointly
- Phases out the credit based on income thresholds, with full eligibility for those earning up to 200% of the federal poverty level
- Directs the IRS to create a simplified application process and outreach program to maximize participation
Affected Parties and Impacts: This bill would directly benefit low- and moderate-income working families by providing them with additional tax credits and financial support. It is expected to help alleviate poverty, improve financial stability, and boost economic opportunity for these households.
Procedural and Timeline Considerations: The bill has been reported by the Senate committee and referred to the Senate Finance Committee for further consideration. If passed by the Finance Committee, it would then move to the full Senate for a vote.
Compiled from official sources — confirm details with the bill’s official record.
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