H.R. 3135, The Child Tax Credit Preservation Act of 2007

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 3135 would amend the Internal Revenue Code of 1986 to make permanent the child tax credit and to allow for adjustments for inflation with respect to the child tax credit.

Detailed Summary

Child Tax Credit Preservation Act of 2007 - Makes permanent the increases in the child tax credit enacted by the Economic Growth and Tax Relief Reconciliation Act of 2001, the Jobs and Growth Tax Relief Reconciliation Act of 2003, and the Working Families Tax Relief Act of 2004.

Provides for an annual inflation adjustment to child tax credit amounts, beginning in 2007.

Status of the Legislation

Latest Major Action: 7/23/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.

Points in Favor

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Points Against

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