Blue Collar Bonus Act of 2021
This bill allows a refundable income tax credit to supplement wages received by an individual taxpayer that are less than the median wage. The bill defines median wage as $16.50 per hour, increased by annual inflation adjustments beginning after 2021. The bill also provides for advance payments of the credit.
The bill requires taxpayers to provide their Social Security account numbers on their tax returns to be eligible for the credit. The credit expires after 2023.