A bill to amend the Internal Revenue Code of 1986 to provide a refundable tax credit for certain teachers as a supplement to State efforts to provide teachers with a livable wage, and for other purposes.
Respect, Advancement, and Increasing Support for Educators Act of 2023 or the RAISE Act of 2023
This bill allows eligible educators (i.e., any elementary or secondary teacher and any early childhood educator) a refundable tax credit of $1,000 plus an additional amount (based upon a specified student poverty ratio) for eligible educators employed at a qualifying school (i.e., a public elementary or secondary school that is eligible for certain federal assistance or is funded by the Bureau of Indian Education), or an early childhood education program for children receiving certain federal assistance.
The bill also increases the amount of the tax deduction for the expenses of elementary and secondary school teachers and expands such credit to include early childhood educators.
The bill provides additional funding to local educational agencies that maintain or increase the salaries of their teachers.
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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