US SB1840 | 2017-2018 | 115th Congress
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on September 19 2017 - 25% progression, died in committee
Action: 2017-09-19 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on September 19 2017 - 25% progression, died in committee
Action: 2017-09-19 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Middle Class Tax Break Act of 2017 This bill amends the Internal Revenue Code to allow a working America tax credit equal to the lesser of: (1) 6.2% of the earned income of the taxpayer, or (2) $500 ($1,000 in the case of a joint return or a head of a household). Individuals whose modified adjusted gross income does not exceed $100,000 ($200,000 in the case of a joint return or a head of a household) are eligible for the credit. The following individuals or entities are ineligible for the credit: (1) estates or trusts, (2) nonresident aliens, (3) individuals who do not include a Social Security number on their tax return, and (4) individuals for whom another taxpayer is allowed a deduction for a personal exemption.
Title
Middle Class Tax Break Act of 2017
Sponsors
Sen. Margaret Hassan [D-NH] |
History
Date | Chamber | Action |
---|---|---|
2017-09-19 | Senate | Read twice and referred to the Committee on Finance. |
Subjects
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/senate-bill/1840/all-info |
Text | https://www.congress.gov/115/bills/s1840/BILLS-115s1840is.pdf |