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S 1840 115th Congress Senate Taxation Immigration status and procedures Income tax credits Tax administration and collection, taxpayers Wages and earnings

Middle Class Tax Break Act of 2017

Introduced: September 19, 2017 Introduced by: Hassan, Margaret Wood Democratic · New Hampshire See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 19, 2017
Read twice and referred to the Committee on Finance.
Sep 19, 2017
Introduced in Senate
 Plain-English summary Congressional Research Service

Middle Class Tax Break Act of 2017

This bill amends the Internal Revenue Code to allow a working America tax credit equal to the lesser of: (1) 6.2% of the earned income of the taxpayer, or (2) $500 ($1,000 in the case of a joint return or a head of a household).

Individuals whose modified adjusted gross income does not exceed $100,000 ($200,000 in the case of a joint return or a head of a household) are eligible for the credit.

The following individuals or entities are ineligible for the credit: (1) estates or trusts, (2) nonresident aliens, (3) individuals who do not include a Social Security number on their tax return, and (4) individuals for whom another taxpayer is allowed a deduction for a personal exemption.

What's happening now September 19, 2017

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1