To amend the Internal Revenue Code of 1986 to extend the earned income tax credit to all taxpayers with dependents and to qualifying students, and for other purposes.

Bill 119 HR 905, also known as the Earned Income Tax Credit Expansion Act, aims to amend the Internal Revenue Code of 1986 to extend the earned income tax credit (EITC) to all taxpayers with dependents and qualifying students. The EITC is a tax credit for low to moderate-income working individuals and families, designed to help reduce the tax burden on those who may struggle to make ends meet.

This bill seeks to expand the eligibility criteria for the EITC to include all taxpayers with dependents, regardless of their marital status. Currently, only taxpayers who are married and filing jointly are eligible for the credit. Additionally, the bill proposes extending the EITC to qualifying students, who are often overlooked in the current tax credit system.

The main goal of this legislation is to provide additional financial support to low-income individuals and families, particularly those with dependents and students who may be facing financial hardships. By expanding the EITC, more individuals will be able to benefit from this tax credit and receive much-needed assistance in meeting their financial obligations. Overall, Bill 119 HR 905 aims to make the tax system more equitable and inclusive by extending the EITC to a broader range of taxpayers. This legislation has the potential to positively impact the financial well-being of many low to moderate-income individuals and families across the country.