[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2126 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 2126

    To amend the Internal Revenue Code of 1986 to modify the income 
  threshold used to calculate the refundable portion of the child tax 
                                credit.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 3, 2007

Mr. Carney (for himself and Mr. Platts) 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 modify the income 
  threshold used to calculate the refundable portion of the child tax 
                                credit.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Working Family Child Assistance 
Act''.

SEC. 2. MODIFICATION OF INCOME THRESHOLD USED TO CALCULATE REFUNDABLE 
              PORTION OF CHILD TAX CREDIT.

    (a) In General.--Clause (i) of section 24(d)(1)(B) of the Internal 
Revenue Code of 1986 (relating to portion of credit refundable) is 
amended to read as follows:
                            ``(i) the sum of--
                                    ``(I) 10 percent of so much of the 
                                taxpayer's earned income (within the 
                                meaning of section 32) taken into 
                                account in computing taxable income for 
                                the taxable year as exceeds $5,000 but 
                                does not exceed $24,000, plus
                                    ``(II) 15 percent of such earned 
                                income as exceeds $24,000, or''.
    (b) Repeal of Inflation Adjustment.--Section 24(d) of such Code is 
amended by striking paragraph (3).
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2006.
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