S.4: LIFT (Livable Incomes for Families Today) the Middle Class Act

Overview

The Lift Act (S.4) would establish a refundable middle-class tax credit of up to $3,000 for individuals and up to $6,000 for married individuals filing joint returns. Taxpayers must be at least 18 years of age to receive the credit and may elect to receive payments of the credit in advance on a monthly basis. The bill would also require the Internal Revenue Service to establish a Community Volunteer Income Tax Assistance Matching Grant Program to provide matching funds for the development, expansion, or continuation of tax preparation programs to assist low-income taxpayers and members of underserved populations.

Our Stance

Watching

Priority

Medium

Bill Number

S.4

Date Introduced

January 03, 2019

Committee

Senate Finance Committee

Bill Status

Introduced or Prefiled