End Child Poverty Act

Universal Child Assistance Payments: Under Section 2, qualifying children under 19 years old who are citizens, nationals, or qualified aliens can receive regular monthly child assistance payments. This could provide direct financial support to families and children.

Income Disregard Protection: Under Section 2(f), child assistance payments are not counted as income for federal taxes and cannot be used as income or resources to reduce eligibility or benefits under other federal, state, or local assistance programs. This ensures families do not lose other benefits for receiving the child payment.

Adult Dependent Credit: Under Section 4, eligible taxpayers can receive a $700 refundable tax credit, adjusted for inflation, for each qualifying dependent over the age of 18. This offers financial relief to individuals caring for adult dependents.

Credit for Adults and Families: Under Section 5, eligible individuals aged 19 through 65 can receive a $700 credit, or $1,400 for joint returns, subject to income thresholds and inflation adjustments. This puts money directly back into the pockets of working-age adults and families.

Termination of Existing Tax Credits: Under Section 3, the bill terminates both the child tax credit and the earned income tax credit for taxable years beginning after December 31, 2025. This removes long-standing tax benefits that many families and workers rely on each year.

Income-Based Reduction for Adults and Families Credit: Under Section 5(b), the credit for adults and families is reduced by 5 percent for taxpayers with an adjusted gross income exceeding $40,000 for joint returns or $20,000 for any other case. This means individuals and families earning above these relatively low thresholds will see a reduction in their credit amount.