3.0.0 1426 2023-01-11T13:49:07Z 2023-01-11T13:49:07Z Senate S 2021-04-28 117 ssfi00 Finance Committee Senate Standing Referred to 2021-04-28T20:37:02Z 2021-04-28 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2021-04-28 Introduced in Senate IntroReferral 10000 9 Library of Congress H001089 Sen. Hawley, Josh [R-MO] Josh Hawley R MO N Taxation Income tax credits Inflation and prices Tax treatment of families Taxation 00 2021-04-28 Introduced in Senate 2021-06-30T18:27:38Z Parent Tax Credit Act

This bill allows an eligible individual a tax credit of $6,000 ($12,000 in the case of a joint tax return), with a limitation based on a minimum earned income level. The bill defines eligible individual as any individual who has a qualifying child who is not yet 13. The eligible individual may not be a nonresident alien, any alien unlawfully present in the United States, and any individual who is a dependent of another taxpayer. To be eligible for the credit, the taxpayer must include on the return of tax a valid Social Security account number.

The bill requires the Internal Revenue Service to establish a program for making advance payments of the credit to taxpayers on a monthly basis.

The bill terminates the child and dependent care tax credit after 2021.

]]> Parent Tax Credit Act Display Title Parent Tax Credit Act Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to establish a refundable tax credit for parents. Introduced in Senate IS Short Title(s) as Introduced Parent Tax Credit Act Introduced in Senate IS Introduced in Senate 2021-04-28T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s1426is/xml/BILLS-117s1426is.xml 2021-04-28 Read twice and referred to the Committee on Finance. 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.