S.Amdt. 3198

SA 3198. Mr. MANCHIN submitted an amendment intended to be proposed
by him to the bill H.R. 7024, to make improvements to the child tax
credit, to provide tax incentives to promote economic growth, to
provide special rules for the taxation of certain residents of Taiwan
with income from sources within the United States, to provide tax
relief with respect to certain Federal disasters, to make improvements
to the low-income housing tax credit, and for other purposes; which was
ordered to lie on the table; as follows:

At the end of title I, insert the following:

SEC. 106. REDUCTION OF THRESHOLD AMOUNT.

(a) In General.--Section 24(h)(3) is amended by striking
``$400,000 in the case of a joint return ($200,000 in any
other case)'' and inserting ``$150,000 in the case of a joint
return ($75,000 in any other case)''.
(b) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2022.
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