The LIFT (Livable Incomes for Families Today) the Middle Class Act would create a new tax credit of up to $3,000 for single people and up to $6,000 for married couples, which would be an addition to existing tax credits. Eligible taxpayers would be allowed a credit equal to the maximum amount or their earnings, whichever is less. Income limits would prevent well-off households from receiving the credit.
For more information, see the ITEP report, Understanding Five Major Federal Tax Credit Proposals.
Lead Sponsor/Proponent |
General Explanation |
Share Going to Bottom 60% |
Share Going to Richest 20% |
Total Cost CY 2020 |
| Sen. Kamala Harris | New credit in addition to existing credits |
82% | 1% | $270.9 billion |
State Impact National Impact Who Benefits? Distribution by Race
