American Family Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
The American Family Act proposes to establish a refundable child tax credit with monthly advance payments. Each taxpayer would receive a monthly allowance for each specified child, up to a maximum amount adjusted for income. The credit is subject to limitations based on modified adjusted gross income, and inflation adjustments will be made annually. Additionally, the bill introduces a separate credit of $500 per specified dependent, with its own limitations. The legislation also includes provisions for coordinating with possessions of the United States and addressing potential issues related to presumptive eligibility and fraud.
Key provisions
- Establishes a refundable monthly child tax credit with advance payments.
- Provides monthly allowances for specified children, adjusted for income.
- Includes a separate $500 credit per specified dependent.
- Inflation adjustments are made annually to the monthly allowances and income thresholds.
- Limitations on the credit based on modified adjusted gross income.
- Provisions for coordinating with possessions of the United States (Puerto Rico and American Samoa).
- Rules regarding presumptive eligibility for the credit.
- Disallowance of the credit for taxpayers who have engaged in fraudulent or reckless claims.
Who is affected
- Taxpayers with children
- Families with qualifying children
- Low-to-moderate income families
- State and local governments
- Federal government
Bill text
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Sponsors
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45 on record
Primary sponsor
Cosponsors
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