Supporting Students and Families Act

This bill, titled the "Supporting Students and Families Act," amends the Internal Revenue Code to introduce a new tax credit for elementary and secondary school supply expenses . It allows individual taxpayers to claim a credit for costs incurred for books, supplies, and other equipment for their dependents attending public, private, or religious elementary or secondary schools. This aims to provide financial relief to families for educational necessities. The credit is capped at $200 per taxable year and is subject to an income limitation , phasing out for taxpayers with modified adjusted gross incomes exceeding $150,000. Expenses claimed under this credit cannot also be counted as qualified education expenses for Coverdell Education Savings Accounts. These provisions will apply to taxable years beginning after December 31, 2026.