# 119-s-4042: Keep Your Pay Act

119-s-4042, Keep Your Pay Act, is a 119th Congress bill sponsored by Sen. Booker, Cory A. [D-NJ] (D-NJ); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-s-4042
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-4042
- Congress: 119
- Title: Keep Your Pay Act
- Status: introduced
- Introduced: 2026-03-10
- Sponsor: Sen. Booker, Cory A. [D-NJ] (D-NJ)
- Cosponsors: 0
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Creates a refundable monthly Child Tax Credit paid as monthly advance payments.** It also expands the Earned Income Tax Credit for workers without children and temporarily raises the standard deduction and top tax rates for high earners. - Families with children: New monthly payments send about $300 per child each month for older kids and larger monthly amounts for younger children and infants. Payments are reduced based on modified adjusted gross income using initial and secondary thresholds and are indexed for inflation. - Workers without children and U.S. possessions: The earned income tax credit for people without qualifying children is permanently broadened. The bill allows a prior-year earned income election for the credit and extends EITC access to U.S. possessions, with special rules for mirror-code jurisdictions and American Samoa. - High-income taxpayers and deductions: The law temporarily increases standard deduction parameters used in various computations and raises top individual tax rates to 41% and 43% for certain brackets for tax years beginning in 2026 through 2035.

## Provisions PRIA read

- Changes to Earned Income Tax Credit: benefit, high. If enacted, the bill would let taxpayers use last year’s earned income to compute the EITC when this year’s earned income is lower, and it would raise several numeric EITC parameters and the credit rate for certain items. The bill would change minimum-age rules (generally age 19, generally 24 for s…
- Larger standard deduction for 2026–2035: benefit, high. If enacted, the bill would raise certain standard-deduction numbers for tax years 2026 through 2035 by substituting larger dollar amounts in the law. These higher standard-deduction parameters would lower taxable income for many taxpayers during that period.
- New $500 credit for adult dependents: benefit, high. If enacted, the bill would create a nonrefundable $500 tax credit for each "specified dependent" who is not a qualifying child. The credit would be reduced by $50 for each $1,000 (or fraction) your MAGI is over a threshold: $400,000 for joint filers, $200,000 for married filing separately, and $300…
- Higher top income tax rates temporarily: cost, high. If enacted, the bill would raise top individual income tax rates for tax years 2026 through 2035 by replacing some 35% rates with 41% and some 37% rates with 43%. These higher statutory percentages would apply to the top brackets during that period.
- Monthly child payments and rules: mixed, high. If enacted, the bill would create a refundable monthly child tax payment. The base monthly amounts would be $300 for each child age 6+ and $360 for each child under 6, with a $2,400 amount for a child under one month. The IRS would run a monthly advance payment program with presumptive eligibility,…

## Related bills

- 119-s-5066: Health Equity and Accountability Act of 2026
- 119-s-5022: Cannabis Administration and Opportunity Act
- 119-s-5283: Momnibus Act
- 119-s-1507: Agriculture Resilience Act of 2025
- 119-s-4504: Full-Service Community School Expansion Act of 2026
- 119-s-3990: PrEP Access and Coverage Act of 2026

## Sources
- [119-s-4042 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/4042)

## Related
- [119-s-5066: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-s-5066)
- [119-s-5022: Cannabis Administration and Opportunity Act](https://policyrisk.com/legislation/119-s-5022)
- [119-s-5283: Momnibus Act](https://policyrisk.com/legislation/119-s-5283)
- [119-s-1507: Agriculture Resilience Act of 2025](https://policyrisk.com/legislation/119-s-1507)
- [119-s-4504: Full-Service Community School Expansion Act of 2026](https://policyrisk.com/legislation/119-s-4504)
- [119-s-3990: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-s-3990)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-4042 (as of 2026-04-21).