A bill to amend the Internal Revenue Code of 1986 to authorize a child tax credit and refundable child and dependent care tax credit.
Working Family Child Care Assistance Act of 1989 - Amends the Internal Revenue Code to allow a taxpayer a refundable income tax credit of 14 percent of up to $7,143 of earned income (maximum credit of $1,000 per child) for each dependent under age four. Decreases the credit amount for taxpayers with adjusted gross income over $8,000. Indexes amounts related to the credit. Makes this credit and the employment-related dependent care credit mutually exclusive.
Authorizes employers to make advance payments of credit amounts in accordance with regulations to be prescribed by the Secretary of the Treasury.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Introduced in the Senate and read twice and held at the desk by unanimous consent. Until the close of business March 16, 1989.
Referred to the Committee on Finance.
Committee on Finance. Hearings held.
Committee on Finance. Hearings held.
Committee on Finance. Hearings held.
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