HR 9354
Single Parent Penalty Elimination Act of 2024
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- Passed House
- Passed Senate
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- Became Law
Bill overview
This bill aims to significantly expand the child tax credit and eliminate a penalty faced by single parents. It increases the child tax credit from $1,000 to $2,000 per child and makes the entire credit fully refundable, meaning families won't have to repay it if they owe little or no taxes. However, to offset the increased spending, the bill also raises the corporate income tax rate from 21% to 28%.
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Primary sponsor
Katie Porter
Cosponsors
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