H.R.3300 - Economic Mobility Act of 2019116th Congress (2019-2020) |
|Sponsor:||Rep. Neal, Richard E. [D-MA-1] (Introduced 06/18/2019)|
|Committees:||House - Ways and Means|
|Committee Meetings:||06/20/19 9:30AM|
|Latest Action:||House - 06/20/2019 Ordered to be Reported (Amended) by the Yeas and Nays: 22 - 19. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.3300 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (06/18/2019)
Economic Mobility Act of 2019
This bill modifies provisions relating to the earned income tax credit, the child tax credit, and the child and dependent care tax credit. Among other things, it increases the earned income tax credit in 2019 and 2020 for individuals with no qualifying children, makes the child tax credit fully refundable during the same period, increases the exclusion from employee gross income for employer-provided dependent care assistance, and provides for payments to U.S. possessions related to such credits.
The bill also eliminates the increase in unrelated business taxable income by expenses for certain fringe benefits for which a tax deduction is not allowed, including transportation and parking benefits or an on-premises athletic facility.