TheWeekInCongress.com

Week Ending May 21, 2004

HR 4359 Child Credit Preservation and Expansion Act of 2004

BRIEF

  The Child Tax Credit was raised to $1,000 two years ago but was set on a schedule to be reduced yearly through 2009 when it would return to $800 per child. HR 4359 would make the $1,000 credit amount permanent.

   Those qualifying for the credit by income include individuals earning $125,000 or less yearly and marrieds earning $250,000 or less yearly.

Sponsor: Jon C. Porter (R-NV)

Vote: Sent to committee for markup

Cost to the taxpayer:

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