II 110th CONGRESS 1st Session S. 218 IN THE SENATE OF THE UNITED STATES January 9, 2007 Ms. Snowe (for herself, Mrs. Lincoln, Mr. Obama, and Mr. Rockefeller) introduced the following bill; which was read twice and referred to the Committee on Finance 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.

1.

Short title

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

2.

$10,000 income threshold used to calculate refundable portion of child tax credit

(a)

In general

Section 24(d) of the Internal Revenue Code of 1986 (relating to portion of credit refundable) is amended— (1)by striking as exceeds and all that follows through , or in paragraph (1)(B)(i) and inserting as exceeds $10,000, or, and (2)by striking paragraph (3). (b)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2006. (c)

Application of sunset to this section

Each amendment made by this section shall be subject to title IX of the Economic Growth and Tax Relief Reconciliation Act of 2001 to the same extent and in the same manner as the provision of such Act to which such amendment relates.