Single Parent Penalty Elimination Act of 2024

2024-08-13

Introduced in House

Single Parent Penalty Elimination Act of 2024

This bill revises the child tax credit by increasing its allowable amount from $1,000 to $2,000. It also repeals income eligibility limits for such credit and makes the credit fully refundable.

As an offset to this bill's revenue effect, the corporate income tax rate is increased from 21% to 28%.

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