Working Families Relief Act of 2019

Bill: 116-hr-1068
Sponsor: full_name: Rep. Budd, Ted [R-NC-13]
Introduced: 2019-02-07
Policy area: Taxation
Subjects: Income tax credits

Income tax deductions

Tax treatment of families
Latest action: action_date: 2019-02-07
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2019-02-07
action_desc: Introduced in House
text: <p><b>Working Families Relief Act of 2019</b></p> <p>This bill provides that the maximum amount of the temporary (for tax years 2018 through 2025) refundable portion of the child tax credit, with respect to any qualifying child, is the greater of (1) $1,400 (adjusted for inflation after 2018), or (2) the excess of the taxpayer's Social Security taxes for the year over the credit allowed under the earned income tax credit. (Under current law, the maximum is $1,400, adjusted for inflation after 2018). </p>

tv_txt: I 116th CONGRESS 1st Session H. R. 1068 IN THE HOUSE OF REPRESENTATIVES February 7, 2019 Mr. Budd 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 ensure that the temporary refundable portion of the child tax credit is not less than the payroll taxes paid by the taxpayer.

1. Short title This Act may be cited as the Working Families Relief Act of 2019 . 2. Temporary refundable portion of child tax credit not less than payroll taxes paid by taxpayer (a) In general Section 24(h)(5)(A) of the Internal Revenue Code of 1986 is amended to read as follows: (A) In general Subsection (d)(1)(A) shall be applied without regard to paragraph (4) of this subsection and the amount determined under subsection (d)(1)(A) shall not exceed the greater of— (i) $1,400, or (ii) the excess of— (I) the taxpayer’s social security taxes (as defined in subsection (d)(2)) for the taxable year, over (II) the credit allowed under section 32 for the taxable year. . (b) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2018.