110 HR 7237 IH: Middle Class Dependent Care Fairness U.S. House of Representatives 2008-09-29 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.

I 110th CONGRESS 2d Session H. R. 7237 IN THE HOUSE OF REPRESENTATIVES September 29, 2008 Ms. Shea-Porter (for herself, Mrs. Boyda of Kansas, Mr. Weiner, Ms. Bean, and Mr. Ryan of Ohio) 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 repeal the phasedown of the credit percentage for the dependent care credit.

1.

Short title

This Act may be cited as the Middle Class Dependent Care Fairness Act of 2008.

2.

Repeal of phasedown of credit percentage for dependent care credit

(a)

In general

Subsection (a) of section 21 of the Internal Revenue Code of 1986 (relating to expenses for household and dependent care services necessary for gainful employment) is amended to read as follows: (a)

Allowance of credit

In the case of an individual for which there are 1 or more qualifying individuals (as defined in subsection (b)(1)) with respect to such individual, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to 35 percent of the employment-related expenses (as defined in subsection (b)(2)) paid by such individual during the taxable year. . (b)

Effective date

The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.