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Federal Tax Credit Scholarship Improvement Act
To amend the Internal Revenue Code of 1986 to modify the credit amount for qualified elementary and secondary education scholarships.
Summary
- Increases the annual federal tax credit limit for qualified elementary and secondary education scholarships to $1,700 per taxpayer ($3,400 for joint tax returns).
- Adds automatic annual inflation adjustments to the credit limit starting in 2026, using the cost-of-living adjustment rounded to the nearest $50.
- Requires the Secretary of the Treasury to publish the adjusted credit limit by November 1 of each year.
- Takes effect for taxable years beginning after December 31, 2025.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
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![Sen. Hyde-Smith, Cindy [R-MS]](https://media.civicgate.org/people/d/politicians/H001079.thumb.jpg)
Sen. Hyde-Smith, Cindy (R-MS)
Money behind the sponsor
Top reported contributors to Cindy Hyde-Smith’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- Employer not reported $81,880
- SEEMANN COMPOSITES $20,300
- BGR GROUP $7,500
- HORNE $6,871
- HOUSEWIFE $6,600
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Cindy Hyde-Smith → · Outside spending →
Actions (2)
- Aug 6, 2026 Read twice and referred to the Committee on Finance. · senate
- Aug 6, 2026 Introduced in Senate
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
IN THE SENATE OF THE UNITED STATES
August 6, 2026
Mrs. Hyde-Smith introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to modify the credit amount for qualified elementary and secondary education scholarships.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Federal Tax Credit Scholarship Improvement Act”.
SEC. 2. TREATMENT OF JOINT RETURNS; INFLATION ADJUSTMENT.
(a) In General.—Paragraph (1) of section 25F(b) of the Internal Revenue Code of 1986 is amended to read as follows:
“(1) Dollar limitation.—For purposes of this section—
“(A) In general.—The credit allowed under subsection (a) to any taxpayer for any taxable year shall not exceed the applicable amount (twice such amount in the case of a joint return).
“(B) Applicable amount.—The applicable amount is $1,700.
“(C) Adjustment for inflation.—
“(i) In general.—In the case of a taxable year beginning after December 31, 2026, the $1,700 amount under subparagraph (B) shall be increased by an amount equal to—
“(I) such amount, multiplied by
“(II) the cost-of-living adjustment determined under section 1(f)(3) by substituting ‘calendar year 2025’ for ‘calendar year 2016’ in subparagraph (A)(ii) thereof.
“(ii) Rounding.—If any increase determined under clause (i) is not a multiple of $50, such increase shall be rounded to the nearest multiple of $50.
“(iii) Publication of adjusted amount.— Not later than November 1 of each calendar year, the Secretary shall publish the adjusted limitation applicable for the following taxable year.”.
(b) Effective Date.—The amendment made by this section shall apply to taxable years beginning after December 31, 2025. <all>
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