115th CONGRESS 1st Session |
To amend the Internal Revenue Code of 1986 to provide an increasingly larger earned income credit for families with more than 3 children.
April 20, 2017
Mr. Nadler introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to provide an increasingly larger earned income credit for families with more than 3 children.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Tax Fairness for All Families Act of 2017”.
SEC. 2. Increased earned income credit for families with more than 3 children.
(a) In general.—Paragraph (1) of section 32(b) of the Internal Revenue Code of 1986 is amended to read as follows:
“(1) PERCENTAGES.—For purposes of subsection (a)—
| “In the case of an eligible individual with: | The credit percentage is: | The phaseout percentage is: |
| 1 qualifying child | 34.00 | 15.98 |
| 2 qualifying children | 40.00 | 21.06 |
| 3 qualifying children | 45.00 | 21.06 |
| 4 qualifying children | 50.00 | 21.06 |
| 5 qualifying children | 55.00 | 21.06 |
| 6 qualifying children | 60.00 | 21.06 |
| 7 or more qualifying children | 65.00 | 21.06 |
| No qualifying children | 7.65 | 7.65.”. |
(b) Conforming amendment.—Paragraph (3) of section 32(b) of such Code is amended by striking subparagraph (A).
(c) Effective date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2016.