Child Credit Preservation and Expansion Act of 2004

Bill: 108-hr-4359
Sponsor: Rep. Porter, Jon C. [R-NV-3]
Introduced: 2004-05-13 in the House
Policy area: Taxation
Subjects: Armed Forces and National Security
Congress
Earnings
Families
Income tax
Military pay
Minimum tax
Social Welfare
Sunset legislation
Tax credits
Tax refunds
Welfare eligibility

Summary:
action_date: 2004-05-13
text: 

 
Child Credit Preservation and Expansion Act of 2004 - Amends the Internal Revenue Code to repeal the scheduled reductions in the amount of the child tax credit for taxable years beginning in 2005 through 2009 (from $1,000 to $700 in 2005 through 2008 and $800 in 2009). Makes the $1,000 credit amount permanent. 
 
Increases the income threshold amount for calculating reductions in the credit amount to $125,000 ($250,000 for married taxpayers filing a joint return). Eliminates the reduction in the percentage of earned income for calculating the refundable portion of the credit (15 to 10 percent) for taxable years beginning before 2005. 
 
Includes in earned income for purposes of calculating the refundable portion of the credit otherwise tax excludable combat zone compensation of members of the armed forces.
 
Exempts from the general termination date in the Economic Growth and Tax Relief Reconciliation Act of 2001 (December 31, 2010) provisions of that Act disregarding as income any refunds from the child tax credit for purposes of determining eligibility for federally funded assistance programs.

action_date: 2004-05-20
text: 

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

 
Child Credit Preservation and Expansion Act of 2004 - Amends the Internal Revenue Code to repeal the scheduled reductions in the amount of the child tax credit for taxable years beginning in 2005 through 2009 (from $1,000 to $700 in 2005 through 2008 and $800 in 2009). Makes the $1,000 credit amount permanent. 
 
Increases the income threshold amount for calculating reductions in the credit amount to $125,000 ($250,000 for married taxpayers filing a joint return). Eliminates the reduction in the percentage of earned income for calculating the refundable portion of the credit (15 to 10 percent) for taxable years beginning before 2005. 
 
Includes in earned income for purposes of calculating the refundable portion of the credit otherwise tax excludable combat zone compensation of members of the armed forces.
 
Exempts from the general termination date in the Economic Growth and Tax Relief Reconciliation Act of 2001 (December 31, 2010) provisions of that Act disregarding as income any refunds from the child tax credit for purposes of determining eligibility for federally funded assistance programs.


Legislative actions:
action_date: 2004-07-06
text: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 609.
action_date: 2004-06-25
text: Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
action_date: 2004-05-21
text: Received in the Senate.
action_date: 2004-05-20
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2004-05-20
text: On passage Passed by recorded vote: 271 - 139 (Roll no. 209). (text: CR 5/21/2004 H3459)
action_date: 2004-05-20
text: Passed/agreed to in House: On passage Passed by recorded vote: 271 - 139 (Roll no. 209).(text: CR 5/21/2004 H3459)
action_date: 2004-05-20
text: DEBATE - Pursuant to the provisions of H. Res. 644, the House proceeded with one hour of debate on the Levin amendment.
action_date: 2004-05-20
text: DEBATE - The House proceeded with one hour of debate on H.R. 4359.
action_date: 2004-05-20
text: Rule provides for consideration of H.R. 4359. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. A specified amendment is in order.
action_date: 2004-05-20
text: Considered under the provisions of rule H. Res. 644. (consideration: CR 5/21/2004 H3459-3475)
action_date: 2004-05-20
text: Rule H. Res. 644 passed House.
action_date: 2004-05-17
text: Rules Committee Resolution H. Res. 644 Reported to House. Rule provides for consideration of H.R. 4359. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. A specified amendment is in order.
action_date: 2004-05-13
text: Referred to the House Committee on Ways and Means.
action_date: 2004-05-13
text: Introduced in House
action_date: 2004-05-13
text: Introduced in House