To amend the Internal Revenue Code of 1986 to increase the child tax credit.

Bill: 114-hr-4846
Sponsor: full_name: Rep. Comstock, Barbara [R-VA-10]
Introduced: 2016-03-23
Policy area: Taxation
Subjects: Income tax credits

Tax treatment of families
Latest action: action_date: 2016-03-23
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2016-03-23
action_desc: Introduced in House
text: <p>This bill amends the Internal Revenue Code, with respect to the child tax credit, to: (1) increase the allowable amount of such credit from $1,000 to $2,000 for each qualifying child, (2) raise the modified adjusted gross income threshold amount at which the phase-out of the credit begins, and (3) increase such threshold amount&nbsp;by $15,000 for each qualifying child of the taxpayer beyond the first child. </p>

tv_txt: I 114th CONGRESS 2d Session H. R. 4846 IN THE HOUSE OF REPRESENTATIVES March 23, 2016 Mrs. Comstock (for herself, Mr. Allen , Mr. Cicilline , Mr. Schweikert , Ms. Ros-Lehtinen , and Mr. Rodney Davis of Illinois ) 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.

1. Increase in child tax credit (a) In general Section 24(a) of the Internal Revenue Code of 1986 is amended by striking $1,000 and inserting $2,000 . (b) Increase in dollar threshold at which credit phase-Out begins (1) In general Section 24(b)(2) of such Code is amended— (A) by striking $110,000 in subparagraph (A) and inserting $150,000 , (B) by striking $75,000 in subparagraph (B) and inserting $100,000 , and (C) by striking $55,000 in subparagraph (C) and inserting 75,000 . (2) Increase for additional qualifying children Section 24(b) of such Code is amended by adding at the end the following new paragraph: (3) Increase in threshold amount based on number of qualifying children In the case of a taxpayer with 2 or more qualifying children, the threshold amount otherwise determined under paragraph (2) shall be increased by $15,000 for each qualifying child of the taxpayer in excess of the first such child. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.