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.
Short title
This Act may be cited as the
Working Family Child Assistance
Act
.
$10,000 income threshold used to calculate refundable portion of child tax credit
In general
Section 24(d) of the Internal Revenue Code of 1986 (relating to portion of credit refundable) is amended—
by striking as exceeds
and
all that follows through , or
in paragraph (1)(B)(i) and
inserting as exceeds $10,000, or
, and
by striking paragraph (3).
Effective date
The amendments made by this section shall apply to taxable years beginning after December 31, 2006.
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.