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HR 2222 IH
110th CONGRESS
1st Session
H. R. 2222
To amend the Internal Revenue Code of 1986 to strengthen the earned income tax credit.
IN THE HOUSE OF REPRESENTATIVES
May 8, 2007
Mr. PASCRELL introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to strengthen the earned income tax credit.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
SEC. 2. STRENGTHEN THE EARNED INCOME TAX CREDIT.
(a) Reduction in Marriage Penalty-
(1) IN GENERAL- Section 32(b)(2)(B) of the Internal Revenue Code of 1986 (relating to joint returns) is amended--
(A) by striking `, 2006, and 2007' in clause (ii) and inserting `and 2006', and
(B) by striking clause (iii) and inserting the following new clauses:
`(iii) $3,500 in the case of taxable years beginning in 2007,
`(iv) $4,000 in the case of taxable years beginning in 2008,
`(v) $4,500 in the case of taxable years beginning in 2009, and
`(vi) $5,000 in the case of taxable years beginning after 2009.'.
(2) INFLATION ADJUSTMENT- Section 32(j)(1)(B)(ii) of such Code is amended--
(A) by striking `$3,000 amount in subsection (b)(2)(B)(iii)' and inserting `$5,000 amount in subsection (b)(2)(B)(vi)', and
(B) by striking `2007' and inserting `2009'.
(3) PROVISIONS NOT SUBJECT TO SUNSET- Title IX of the Economic Growth and Tax Relief Reconciliation Act of 2001 (relating to sunset provisions of such Act) shall not apply to section 303(a) of such Act.
(b) Increase in Credit Percentage for Families With 3 or More Children- The table contained in section 32(b)(1)(A) of such Code (relating to percentages) is amended--
(1) by striking `2 or more qualifying children' in the second row and inserting `2 qualifying children', and
(2) by inserting after the second row the following new item:
`
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3 or more qualifying children 45 21.06'.
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(c) Credit Increase and Reduction in Phaseout for Individuals With No Children- The table contained in section 32(b)(1)(A) of such Code is amended--
(1) by striking `7.65' in the second column of the third row and inserting `15.3', and
(2) by striking `7.65' in the third column of the third row and inserting `15.3'.
(d) Permanent Extension of Special Rule Treating Combat Pay as Earned Income-
(1) IN GENERAL- Clause (vi) of section 32(c)(2)(B) of such Code (relating to earned income) is amended to read as follows:
(2) PROVISION NOT SUBJECT TO SUNSET- Section 105 of the Working Families Tax Relief Act of 2004 (relating to application of EGTRRA sunset to this title) shall not apply to section 104(b) of such Act.
(e) Effective Date- The amendments made by this section shall apply to taxable years beginning after December 31, 2006.
U.S. Congress - Text of H.R.2222 as Introduced in House Strengthen the Earned Income Tax Credit Act of 2007
