In CommitteeFiled May 26, 2026
Sponsor: Rep. McGarvey, Morgan [D-KY-3] (D)
Latest Action
Referred to the House Committee on Ways and Means.
May 26, 2026
Summary
The Young Adult Tax Credit Act adds a refundable credit of $500 each month for every qualifying young adult (ages 18‑24) in a household, with the amount indexed to inflation after 2027. Payments are made as monthly advances and are reconciled on the annual tax return, with rules to recapture overpayments or fraud. The credit is available to taxpayers who live in the United States or Puerto Rico at least half of each month.
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