WASHINGTON, D.C. -Today the House Committee on Ways and Means is considering legislation designed to ease the financial burden of parents across America by expanding the child tax credit.
H.R. 3996, the Temporary Tax Relief Act of 2007, would provide $1,000 in annual tax relief to 6 million mothers and fathers by expanding the child tax credit. This family-friendly legislation coincides with a push by a bipartisan majority in Congress to overcome an effort by President Bush and 10 House Republicans to block a bill providing health care for 10 million children.
“When the new Democratic Congress took over in January, Speaker Pelosi declared that this would be the ‘children’s Congress,’" said Chairman Charles B. Rangel (D-NY). “Whether we’re standing-up for improved health care for children or fighting to deliver tax relief to their parents, let there be no question that the majority in this Congress is committed to the children of this great nation."
Another provision in the Temporary Tax Relief Act of 2007 would help families cope with the rising cost of education by extending the current deduction for college tuition.
Additionally, the legislation protects 23 million Americans from being hit by the alternative minimum tax and extends numerous of expiring provisions.
