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HR 7237 IH
110th CONGRESS
2d Session
H. R. 7237
To amend the Internal Revenue Code of 1986 to repeal the phasedown of the credit percentage for the dependent care credit.
IN THE HOUSE OF REPRESENTATIVES
September 29, 2008
Ms. SHEA-PORTER (for herself, Mrs. BOYDA of Kansas, Mr. WEINER, Ms. BEAN, and Mr. RYAN of Ohio) 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 repeal the phasedown of the credit percentage for the dependent care 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. REPEAL OF PHASEDOWN OF CREDIT PERCENTAGE FOR DEPENDENT CARE CREDIT.
(a) In General- Subsection (a) of section 21 of the Internal Revenue Code of 1986 (relating to expenses for household and dependent care services necessary for gainful employment) is amended to read as follows:
‘(a) Allowance of Credit- In the case of an individual for which there are 1 or more qualifying individuals (as defined in subsection (b)(1)) with respect to such individual, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to 35 percent of the employment-related expenses (as defined in subsection (b)(2)) paid by such individual during the taxable year.’.
(b) Effective Date- The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.
U.S. Congress - Text of H.R.7237 as Introduced in House Middle Class Dependent Care Fairness Act of 2008
