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S 2648 110th Congress Senate Labor and Employment Crime and Law Enforcement Earned income tax credit Economics and Public Finance Employment of the disadvantaged Enterprise zones Ex-offenders Families Grants-in-aid Income tax Juvenile delinquency Poverty Social Welfare Tax credits Tax deductions Tax exemption Taxation Urban affairs Youth employment

STEP UP Act

Introduced: February 14, 2008 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 14, 2008
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1063-1067)
Feb 14, 2008
Sponsor introductory remarks on measure. (CR S1061-1063)
Feb 14, 2008
Introduced in Senate
 Plain-English summary Congressional Research Service

Supporting Training and Employment Potential for Underemployed Populations Act, or the STEP UP Act - Amends the Workforce Investment Act of 1998 to revise Youth Opportunity Grant Program requirements to direct the Secretary of Labor to make grants to local boards and eligible entities to carry out programs that provide job training and employment activities and related services to youth and young adults (allows up to 25% of funds to be made available for hard-to-serve young adults) as defined in this Act who live in empowerment zones, enterprise communities, or high poverty areas.

Earned Income Tax Credit Enhancement Act of 2007 - Amends provisions of the Internal Revenue Code (IRC) to revise requirements with respect to the earned income tax credit, including to increase the maximum earned income tax credit amount for certain taxpayers without qualifying children.

Allows the unused portion of an eligible taxpayer's standard deduction and personal exemption deductions that exceeds his or her adjusted gross income to be carried back to the preceding taxable year and carried forward to each of the two taxable years following the unused deduction year.

Allows an employment tax credit and an advanced employment tax credit of $500, respectively, for members of targeted groups as defined under the IRC.

Expands the work opportunity credit for employers who hire: (1) a youth opportunity program participant; (2) a qualified Workforce Investment Act (WIA) youth activity participant; or (3) a qualified young offender. Allows an additional work opportunity credit of $500 for each retained employee of a targeted group.

What's happening now February 14, 2008

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1063-1067)

 Committees of jurisdiction 1