Sen. Hawley Proposes $12K Tax Credit for Families

EXCLUSIVE – Sen. Josh Hawley, R-Mo., will introduce a bill that would provide $6,000 parent tax credits to single parents and $12,000 parent tax credits for married parents with children under the age of 13.

“We need a plan to help working parents that is pro-family and pro-work. I’ll be proposing legislation this coming week that gives a major tax cut to working parents to help them afford to start a family and raise their kids,” Hawley wrote on Twitter on Saturday.

Hawley’s bill aims to give more freedom to families to decide whether one or both parents should work full-time. The freshman senator’s proposal would give the tax credit to parents who hit a minimum earnings requirement of $7,540, which translates to 20 hours of work per week at the federal minimum wage. The legislation allows for the same earnings threshold for single and married parents and creates a “marriage bonus.”

Hawley’s plan would deliver payments via the IRS and instruct the agency to create an online portal for families to input information. Families could also opt out of the monthly payments for a lump sum when they file their federal taxes.

Keep reading at Fox News for more.