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S 2976 116th Congress Senate Taxation Administrative law and regulatory procedures Adoption and foster care Congressional oversight Department of the Treasury Family relationships Fraud offenses and financial crimes Government studies and investigations Income tax credits Income tax deferral Poverty and welfare assistance Tax administration and collection, taxpayers Tax treatment of families

Advancing Support for Working Families Act

Introduced: December 4, 2019 Introduced by: Cassidy, Bill Republican · Louisiana 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
Dec 4, 2019
Read twice and referred to the Committee on Finance.
Dec 4, 2019
Introduced in Senate
 Plain-English summary Congressional Research Service

Advancing Support for Working Families Act

This bill allows individual taxpayers an election to advance up to $5,000 of the child tax credit in the year of birth or adoption of an applicable qualifying child (a child, other than an eligible foster child, who has a specified relationship to the taxpayer and meets certain age, residency, and support requirements).

The bill sets forth a special rule for parents who do not qualify for the full refundable portion of the child tax credit. The advance amount for such parents is the lesser of $5,000, or 25% of their earned income amount for the taxable year.

The bill requires the Government Accountability Office to report to Congress on matters relating to taxpayers who make an election to advance the child tax credit.

What's happening now December 4, 2019

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Republican 3