EITC Lookback Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2898 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 2898

  To amend the Internal Revenue Code of 1986 to establish a permanent
      lookback provision with respect to the Earned Income Credit.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             April 10, 2025

  Mrs. Sykes introduced the following bill; which was referred to the
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL

  To amend the Internal Revenue Code of 1986 to establish a permanent
      lookback provision with respect to the Earned Income Credit.

    Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``EITC Lookback Act''.

SEC. 2. EARNED INCOME CREDIT LOOKBACK.

    (a) In General.--Section 32 of the Internal Revenue Code of 1986 is
amended by adding at the end the following new subsection:
    ``(o) Lookback.--If the earned income of the taxpayer for the
taxable year is less than the earned income of the taxpayer for the
preceding taxable year, the credit allowed under subsection (a) may, at
the election of the taxpayer, be determined by substituting--
            ``(1) such earned income for the preceding taxable year,
        for
            ``(2) such earned income for the taxable year.''.
    (b) Effective Date.--The amendment made by this section shall apply
to determinations made with respect to taxable years beginning after
December 31, 2024.
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