Bill Sponsor
House Bill 5296
116th Congress(2019-2020)
Advancing Support for Working Families Act
Introduced
Introduced
Introduced in House on Dec 4, 2019
Overview
Text
Introduced
Dec 4, 2019
Latest Action
Dec 4, 2019
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
5296
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
Sponsorship by Party
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

Advancing Support for Working Families Act

This bill 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.

Text (1)
December 4, 2019
Actions (2)
12/04/2019
Referred to the House Committee on Ways and Means.
12/04/2019
Introduced in House
Public Record
Record Updated
Oct 28, 2022 1:46:06 AM