Detailed Summary

Middle Class Opportunity Act of 2007 - Amends the Internal Revenue Code to: (1) increase the child tax credit for the first year in which a child is claimed as a qualifying child; (2) expand eligibility for the dependent care tax credit and allow such credit for expenses to care for parents (and ancestors of such parents) not residing with the taxpayer; (3) provide for an increased alternative minimum tax exemption amount through 2008; and (4) replace the Hope and Lifetime Learning tax credits with an expanded education tax credit.

Status of the Legislation

Latest Major Action: 2/15/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.

Points in Favor

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Points Against

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