This bill would create a new federal tax credit to help cover the costs of in vitro fertilization (IVF) treatments. The credit would allow individuals to claim up to $30,000 in total lifetime expenses for IVF as a refundable tax credit, meaning taxpayers could receive money back from the government even if they owe no taxes. The credit would apply to qualified medical expenses related to IVF for the taxpayer or their spouse, and it would take effect immediately upon enactment. The bill prevents people from claiming the same expenses twice by reducing the credit by any amount already claimed as a medical deduction or other credit. This legislation would primarily benefit Americans seeking fertility treatments, particularly those with lower incomes who would benefit most from the refundable nature of the credit.
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