Lower Your Taxes Act

The Lower Your Taxes Act expands tax credits for low and middle-income households, primarily affecting workers and families with children. It significantly increases the Earned Income Tax Credit, raising the maximum credit percentage from 34% to 68% and increasing the earned income threshold from $6,330 to $19,000. The bill also establishes a new refundable child tax credit with monthly advance payments of $300 for children under 6 and $350 for children 6-17, with income limits. For high-income earners, it changes capital gains tax rates, and for corporations, it increases tax rates from 21% to 28%.