WASHINGTON, Kan (WIBW)-- Congresswoman Lynn Jenkins (KS-02 R) has introduced what she calls the''Child Tax Credit Improvement Act of 2014''.
Jenkins called the current child care tax rules outdated. The new legislation would index the credit and limitations based on inflation as costs increase.
The proposal would modify the child tax credit in 3 ways
- The $1,000 credit would be indexed for inflation
- Phaseout would begin at $150,000 instead of the current $110,000
- Phaseout would also be indexed for inflation
The proposed law can be found by clicking here.