To amend the Internal Revenue Code of 1986 to make certain temporary provisions relating to the child tax credit permanent, to make such credit fully refundable, and to increase the corporate tax rate.
Single Parent Penalty Elimination Act of 2024
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%.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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