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H.R. 5953 118th Congress House

Lower Your Taxes Act

Official title: To amend the Internal Revenue Code of 1986 to expand the earned income and child tax credits, and for other purposes.

Introduced: October 12, 2023 Introduced by: Emilia Strong Sykes Democratic · Ohio See on congress.gov
Taxation Income tax creditsIncome tax ratesInflation and pricesState and local taxationTax treatment of families
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 25, 2023
Referred to the House Committee on Ways and Means.
Oct 12, 2023
Introduced in House
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 Latest action October 25, 2023

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Lower Your Taxes Act

This bill increases the earned income tax credit, makes the child tax credit fully refundable, and establishes a program of advance monthly payments for such credit.

The bill increases the percentage rates and amounts of the earned income tax credit and expands age eligibility for the credit (lowering the age baseline from 25 to 18 and eliminating the age 65 limit).

The bill establishes a new refundable child tax credit with monthly advance payments of credit amounts.

The bill creates several set-off provisions, including (1) denying preferential capital gain tax rates for taxpayers with taxable income in excess of $1 million, (2) increasing the corporate income tax rate from 21% to 28%, and (3) increasing the excise tax rate on repurchases of corporate stock and the rate of the corporate alternative minimum tax.

 Related & companion bills 1
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 5953: Lower Your Taxes Act. 118th Congress. Open America. https://openamerica.io/bill/118-HR-5953/
MLA
"H.R. 5953: Lower Your Taxes Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-5953/.
Bluebook (legal)
H.R. 5953, 118th Cong. (2026), https://openamerica.io/bill/118-HR-5953/.
Markdown link
[H.R. 5953: Lower Your Taxes Act](https://openamerica.io/bill/118-HR-5953/)
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