US Congress Senate Bill 2976 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 5-1-1)
Status: Introduced on December 4 2019 - 25% progression, died in committee
Action: 2019-12-04 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

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.

Advancing Support for Working Families Act

Sen. Bill Cassidy [R-LA]	Sen. Kyrsten Sinema [I-AZ]	Sen. Steve Daines [R-MT]	Sen. Shelley Capito [R-WV]
Sen. Joe Manchin [D-WV]	Sen. John Hoeven [R-ND]	Sen. Martha McSally [R-AZ]

Date	Chamber	Action
2019-12-04	Senate	Read twice and referred to the Committee on Finance.

HB5296 (Same As) 2019-12-04 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/2976/all-info
Text	https://www.congress.gov/116/bills/s2976/BILLS-116s2976is.pdf