Child Tax Credit Restoration Act of 2014

Bill: 113-hr-4044
Sponsor: full_name: Rep. Braley, Bruce L. [D-IA-1]
Introduced: 2014-02-11
Policy area: Taxation
Subjects: Income tax credits

Tax treatment of families
Latest action: action_date: 2014-02-11
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2014-02-11
action_desc: Introduced in House
text: <p>Child Tax Credit Restoration Act of 2014 - Amends the Internal Revenue Code, with respect to the child tax credit,&nbsp;to increase, in taxable years beginning in 2014 or 2015: (1)&nbsp;the maximum&nbsp;amount of such credit per&nbsp;child to $2,000, and&nbsp;(2)&nbsp;the&nbsp;rate of the refundable portion of such credit from 15% to 30% of earned income.</p>

tv_txt: I 113th CONGRESS 2d Session H. R. 4044 IN THE HOUSE OF REPRESENTATIVES February 11, 2014 Mr. Braley of Iowa introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to increase the child tax credit for 2 years.

1. Short title This Act may be cited as the Child Tax Credit Restoration Act of 2014 . 2. Temporary modification of child tax credit (a) In general Section 24 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: (g) Special rules for 2014 and 2015 In the case of any taxable year beginning in 2014 or 2015— (1) Increased credit per child Subsection (a) shall be applied by substituting $2,000 for $1,000 . (2) Increased refundability Subsection (d)(1)(B)(i) shall be applied by substituting 30 percent for 15 percent . . (b) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2013.