WASHINGTON, D.C.–Congresswoman Lynn Jenkins (KS-02) introduced H.R. 4935, the Child Tax Credit Improvement Act of 2014. The House Committee on Ways and Means has scheduled a committee markup of H.R. 4935 for tomorrow, Wednesday, June 25, 2014. After introducing the legislation, Congresswoman Jenkins released the following statement:

“There is no doubt costs for raising children are increasing every year. The current law for child tax credits is outdated and fails to recognize how difficult it can be to have a family. My legislation indexes the credit and the limitations to inflation to help parents keep more of their hard earned money to use for the mounting expenses of parenting.

“Increasing the phase-out level is a family friendly change that greatly simplifies the tax code for middle class parents currently forced to perform a complicated computation and increases fairness across the code. This legislation also removes the marriage penalty embedded in the current tax credit and ensures those who choose to get married before they have kids do not have to pay more than those who do not.” 

The Child Tax Credit Improvement Act of 2014:

The proposal modifies the child tax credit in three ways. First, the $1,000 credit amount is indexed for inflation. Second, the beginning of the child credit phaseout for joint filers is increased from $110,000 to $150,000 to eliminate the marriage penalty. Third, the beginning point of the income phase outs is indexed for inflation.

Politico reported this morning: “Rep. Lynn Jenkins’ proposal would modify the child tax credit to expand the number of individuals and families who can access the credit by increasing the threshold from $110,000 to $150,000 for joint filers.”

For the JCT Description of the Child Tax Credit Improvement Act of 2014, click here.

For the bill text, click here.

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