Pipeline · Bill → Law
Step 1
Introduced
Aug 13, 2024
Step 2
Referred
Aug 13, 2024
Ways & Means
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill revises the child tax credit by increasing its allowable amount from $1,000 to $2,000. It also repeals income eligibility limits for such credit and makes the credit fully refundable. As an offset to this bill's revenue effect, the corporate income tax rate is increased from 21% to 28%.
Timeline · 2 actions
Aug 13, 2024
Introduced in House
Aug 13, 2024
Referred to the House Committee on Ways and Means.