[Congressional Bills 111th Congress]
[From the U.S. Government Printing Office]
[S. 26 Introduced in Senate (IS)]
111th CONGRESS
1st Session
S. 26
To amend the Internal Revenue Code of 1986 to reset the income
threshold used to calculate the refundable portion of the child tax
credit and to repeal the sunset for certain prior modifications made to
the credit.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
January 7, 2009
Mrs. Lincoln 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 reset the income
threshold used to calculate the refundable portion of the child tax
credit and to repeal the sunset for certain prior modifications made to
the 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 CHILD TAX CREDIT; REPEAL OF SUNSET.
(a) Modification of Threshold Amount.--
(1) In general.--Clause (i) of section 24(d)(1)(B) of the
Internal Revenue Code of 1986 is amended by striking
``$10,000'' and inserting ``$8,500''.
(2) Repeal of inflation adjustment to earned income base.--
Subsection (d) of section 24 of such Code (relating to portion
of credit refundable) is amended by striking paragraph (3).
(3) Conforming amendment.--Section 24(d) of such Code is
amended by striking paragraph (4).
(4) Effective date.--The amendments made by this subsection
shall apply to taxable years beginning after December 31, 2009.
(b) Repeal of EGTRRA Sunset.--Title IX of the Economic Growth and
Tax Relief Reconciliation Act of 2001 (relating to sunset of provisions
of such Act) shall not apply to sections 201 and 203 of such Act
(relating to modifications to child tax credit and refunds disregarded
in the administration of federal programs and federally assisted
programs).
<all>