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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Toddler Tax Credit Act of 1989

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Internal Revenue Code of 1986 to provide a refundable credit to parents for dependents under age 5, and for other purposes.

Actions Overview (1)

03/15/1989Introduced in House

All Actions (2)

03/15/1989Referred to the House Committee on Ways and Means.
Action By: House of Representatives
03/15/1989Introduced in House
Action By: House of Representatives

Cosponsors (0)

No cosponsors.

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means03/15/1989 Referred to

No related bill information was received for H.R.1448.

Subjects (7)

Latest Summary (1)

There is one summary for H.R.1448. View summaries

Shown Here:
Introduced in House (03/15/1989)

Toddler Tax Credit Act of 1989 - Amends the Internal Revenue Code to allow an individual a refundable income tax credit for each dependent child under the age of five. Establishes credit amounts as the lesser of: (1) $2,000 or 27 percent of income below $10,000 for a single qualified dependent; or (2) $3,000 or 40 percent of such income for more than one dependent. Reduces the credit for taxpayers earning more than $10,000. Makes this credit and the employment-related dependent care credit mutually exclusive. Applies phase-in amounts for tax years beginning in 1990 through 1993. Indexes post-1994 credit amounts.

Authorizes advance toddler tax credit payments by employers to employees who provide certification of eligibility. Requires taxpayers to file information returns to reflect these payments.

Disallows the earned income tax credit to taxpayers eligible for the toddler tax credit.

Reduces the amount of the dependent care credit for taxpayers with adjusted gross income above $50,000.