Boost the Middle Class Act

This bill proposes significant amendments to the Internal Revenue Code of 1986, primarily focused on enhancing the Earned Income Tax Credit (EITC) . Its core purpose is to increase the financial benefit and accessibility of the EITC for eligible taxpayers by raising the maximum earned income amounts and the income thresholds at which the credit begins to phase out. Specifically, the legislation increases the phaseout amount for married individuals filing jointly from $5,000 to $7,612, allowing more of their income to be earned before the credit is reduced. Additionally, it updates the base years used for inflation adjustments for the EITC, ensuring the credit's value keeps pace with economic changes. These comprehensive changes are slated to take effect for taxable years beginning after December 31, 2025.