S. 4042
Introduced in Senate · March 24, 2026March 10, 2026
Mr. Booker introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to increase the standard deduction, and for other purposes.
1. Short title; etc; TITLE I—INCREASE IN STANDARD DEDUCTION AND TOP TAX RATES; 101. Increased standard deduction; 102. Increase in income tax rates for highest earners; TITLE II—TAX CUTS FOR WORKERS AND FAMILIES; 201. Permanent extension of earned income credit rules for individuals without qualifying children; 202. Application of earned income credit to possessions of the United States; 203. Election to use prior year earned income; 204. Establishment of refundable child tax credit with monthly advance payment
Monthly child tax credit
Monthly payments of child tax credit
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,