3.0.0 1859 2022-11-01T18:17:20Z 2022-11-01T18:17:20Z House HR 2019-03-25 116 [Congressional Record Volume 165, Number 51 (Monday, March 25, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. KATKO:H.R. 1859.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 1 of the U.S. Constitution:The Congress shall have the Power To law and collect Taxes,Duties, Imposts and Excises, to pay the Debts and provide forthe common Defence and general Welfare of the United States.[Page H2796]]]> hswm00 Ways and Means Committee House Standing Referred to 2019-03-25T16:01:05Z 2019-03-25 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2019-03-25 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-03-25 Introduced in House IntroReferral 1000 9 Library of Congress K000386 Rep. Katko, John [R-NY-24] John Katko R NY 24 N B001308 Rep. Brindisi, Anthony [D-NY-22] Anthony Brindisi D NY 22 2019-03-25 True Taxation Bank accounts, deposits, capital Child care and development Employee benefits and pensions Employee leave Income tax deductions Income tax exclusion Self-employed Taxation 00 2019-03-25 Introduced in House 2019-06-03T14:26:20Z Working Parents Flexibility Act of 2019

This bill allows tax-exempt parental leave savings accounts for the care of a child. An individual who has earned income from employment during the past 12 months may make tax deductible cash contributions of up to $6,750 in a taxable year to an account. The total contributions to an account for all taxable years may not exceed $24,000. Taxpayers whose adjusted gross income exceeds $250,000 in a taxable year are ineligible for such a tax deduction.

The bill excludes from gross income (1) distributions from a parental leave savings account that are made not later than one year after the birth or adoption of a child of an account holder, and (2) contributions made by an employer to the parental leave savings account of an employee.

]]> Working Parents Flexibility Act of 2019 Display Title Working Parents Flexibility Act of 2019 Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide for parent savings accounts, and for other purposes. Introduced in House IH Short Title(s) as Introduced Working Parents Flexibility Act of 2019 Introduced in House IH Introduced in House 2019-03-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr1859ih/xml/BILLS-116hr1859ih.xml 2019-03-25 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.