US SB1975 | 2013-2014 | 113th Congress

Status

Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on January 30 2014 - 25% progression, died in committee
Action: 2014-01-30 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Amends the Internal Revenue Code to allow taxpayers who do not otherwise itemize their tax deductions a deduction from gross income (above-the-line deduction) for their employment-related expenses incurred in caring for a child under the age of 13 or a child who is physicaly or mentaly incapable of self care (qualifying child). Limits the dollar amount of such deduction in a taxable year to $7,000 for taxpayers with one qualifying child or $14,000 for taxpayers with two or more qualifying children. Allows an annual inflation adjustment to such amounts for taxable years beginning after 2014.

Tracking Information

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Title

A bill to amend the Internal Revenue Code of 1986 to provide an above-the-line deduction for child care expenses, and for other purposes.

Sponsors


History

DateChamberAction
2014-01-30SenateRead twice and referred to the Committee on Finance.

Same As/Similar To

HB5365 (Same As) 2014-07-31 - Referred to the House Committee on Ways and Means.

Subjects


US Congress State Sources


Bill Comments

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