This bill amends the Internal Revenue Code of 1986 to establish a permanent lookback provision for the Earned Income Credit (EITC) . The primary goal is to offer taxpayers flexibility in calculating their credit, especially when their income has decreased from the prior year. Under this provision, if a taxpayer's earned income for the current taxable year is less than their earned income for the preceding year, they may elect to use the higher earned income from the preceding year to determine their EITC. This election could help eligible individuals and families receive a more substantial credit. The amendment is set to apply to determinations made for taxable years beginning after December 31, 2024 .