HR 7425
118th Congress
House
Taxation
To amend the Internal Revenue Code of 1986 to provide a deduction for certain newborn expenses.
Introduced: February 20, 2024
Introduced by:
Schweikert, David
Republican
· Arizona
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 20, 2024
Introduced in House
Feb 20, 2024
Referred to the House Committee on Ways and Means.
Plain-English summary
This bill allows individual taxpayers a tax deduction from gross income (above-the-line deduction) through 2029 for their qualified newborn expenses, up to $5,000. The deduction is not available for taxpayers whose modified adjusted gross income exceeds $100,000 ($200,000 in the case of a joint return).
The bill defines qualified newborn expenses to include amounts paid for infant formula, baby bottles, diapers, infant car seats, baby strollers, and cribs.
Taxpayers must include their social security number on their tax returns to qualify for the deduction.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1