US HB2533 | 2017-2018 | 115th Congress

Status

Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Introduced on May 18 2017 - 25% progression
Action: 2017-05-18 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Working Parents Flexibility Act of 2017 This bill amends the Internal Revenue Code to establish a tax-exempt parental leave savings account for the care of a child, to which an individual taxpayer who has earned income from employment during the past 12 months may make tax deductible cash contributions of up to $6,750 in a taxable year and not more than an aggregate of $24,000 for all taxable years. Taxpayers whose adjusted gross income exceeds $250,000 in a taxable year are ineligible for such a tax deduction. The bill excludes from gross income: (1) distributions from a parental leave savings account that are made not later than one year after the birth or adoption of a child of an account holder, and (2) contributions made by an employer to the parental leave savings account of an employee.

Tracking Information

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Title

Working Parents Flexibility Act of 2017

Sponsors


History

DateChamberAction
2017-05-18HouseReferred to the House Committee on Ways and Means.
2017-05-18HouseIntroduced in House

Subjects


US Congress State Sources


Bill Comments

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