HR 536 IHCommentsClose CommentsPermalink

To amend the Internal Revenue Code of 1986 to strengthen the earned income tax credit.CommentsClose CommentsPermalink

January 14, 2009CommentsClose CommentsPermalink

Mr. PASCRELL (for himself and Mr. BOREN) introduced the following bill; which was referred to the Committee on Ways and MeansCommentsClose CommentsPermalink

To amend the Internal Revenue Code of 1986 to strengthen the earned income tax credit.CommentsClose CommentsPermalink

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,CommentsClose CommentsPermalink

SECTION 1. SHORT TITLE.

This Act may be cited as the ‘Strengthen the Earned Income Tax Credit Act of 2009’.CommentsClose CommentsPermalink

SEC. 2. STRENGTHEN THE EARNED INCOME TAX CREDIT.

(a) Reduction in Marriage Penalty-CommentsClose CommentsPermalink





(1) IN GENERAL- Section 32(b)(2)(B) of the Internal Revenue Code of 1986 (relating to joint returns) is amended--CommentsClose CommentsPermalink





(A) in clause (iii) by striking ‘after 2007.’ and inserting ‘in 2008,’, andCommentsClose CommentsPermalink





(B) by inserting after clause (iii) the following new clauses:CommentsClose CommentsPermalink





‘(iv) $3,500 in the case of taxable years beginning in 2009,CommentsClose CommentsPermalink





‘(v) $4,000 in the case of taxable years beginning in 2010,CommentsClose CommentsPermalink





‘(vi) $4,500 in the case of taxable years beginning in 2011, andCommentsClose CommentsPermalink





‘(vii) $5,000 in the case of taxable years beginning after 2012.’.CommentsClose CommentsPermalink





(2) INFLATION ADJUSTMENT- Section 32(j)(1)(B)(ii) of such Code is amended--CommentsClose CommentsPermalink





(A) by striking ‘$3,000 amount in subsection (b)(2)(B)(iii)’ and inserting ‘$5,000 amount in subsection (b)(2)(B)(vii)’, andCommentsClose CommentsPermalink





(B) by striking ‘2007’ and inserting ‘2010’.CommentsClose CommentsPermalink





(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.CommentsClose CommentsPermalink





(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--CommentsClose CommentsPermalink





(1) by striking ‘2 or more qualifying children’ in the second row and inserting ‘2 qualifying children’, andCommentsClose CommentsPermalink





(2) by inserting after the second row the following new item:CommentsClose CommentsPermalink

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‘3 or more qualifying children 45 21.06’. CommentsClose CommentsPermalink

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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--CommentsClose CommentsPermalink





(1) by striking ‘7.65’ in the second column of the third row and inserting ‘15.3’, andCommentsClose CommentsPermalink





(2) by striking ‘7.65’ in the third column of the third row and inserting ‘15.3’.CommentsClose CommentsPermalink





(d) Effective Date- The amendments made by this section shall apply to taxable years beginning after December 31, 2008.CommentsClose CommentsPermalink