H.R. 3758, The Family Tax Relief 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• This item is from the 110th Congress (2007-2008) and is no longer current.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. 3758 would amend the Internal Revenue Code of 1986 to reduce the alternative minimum tax by increasing the exemption amounts and adjusting them for inflation and by making permanent law the allowance of the dependent care credit, the child credit, and the adoption credit against such tax.

Detailed Summary

Family Tax Relief Act of 2007 - Amends the Internal Revenue Code to: (1) the increase the alternative minimum tax (AMT) exemption amounts and adjust such amounts for inflation after 2008; and (2) make permanent the allowance of the dependent care tax credit, the child tax credit, and the adoption tax credit against the AMT.

Status of the Legislation

Latest Major Action: 10/4/2007: 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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