[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3742 Introduced in House (IH)]







107th CONGRESS
  2d Session
                                H. R. 3742

To amend the Internal Revenue Code of 1986 to expand the earned income 
        tax credit for individuals with no qualifying children.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 13, 2002

Mr. Davis of Illinois introduced the following bill; which was referred 
                   to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to expand the earned income 
        tax credit for individuals with no qualifying children.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXPANSION OF EARNED INCOME TAX CREDIT.

    (a) Increase in Credit Percentage.--The table in subparagraph (A) 
of section 32(b)(1) of the Internal Revenue Code of 1986 (relating to 
percentages) is amended by striking ``7.65'' both places it appears and 
inserting ``15.3''.
    (b) Increase in Earned Income Amount.--The table in subparagraph 
(A) of section 32(b)(2) of such Code (relating to amounts) is amended 
by striking ``$4,220'' and inserting ``$7,000''.
    (c) Increase in Phaseout Amount.--The table in subparagraph (A) of 
section 32(b)(2) of such Code (relating to amounts) is amended by 
striking ``$5,280'' and inserting ``$12,800''.
    (d) Inflation Adjustments.--Subparagraph (B) of section 32(j)(1) of 
such Code is amended--
            (1) in clause (i) by inserting ``(other than amounts 
        relating to no qualifying children)'' after ``subsections 
        (b)(2)(A)'', and
            (2) by striking ``and'' at the end of clause (i), by 
        redesignating clause (ii) and clause (iii), and by inserting 
        after clause (i) the following new clause:
                            ``(ii) in case of amounts in subsection 
                        (b)(2)(A) relating to no qualifying children, 
                        by substituting `calendar year 2001' for 
                        `calendar year 1992' in subparagraph (B) of 
                        such section 1, and''.
    (e) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2001.
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