Parents' Tax Relief Act of 2007
Latest action · Mar 8, 2007 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 8, 2007
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Parents' Tax Relief Act of 2007 - Amends the Internal Revenue Code to: (1) provide for a minimum tax credit for household and dependent care services for dependents under the age of seven and to phase out such credit based on the amount by which the taxpayer's adjusted gross income exceeds a threshold amount; (2) increase to $5,000 the amount of the personal tax exemption; (3) eliminate the marriage penalty in all income tax brackets and in the tax deduction for student loan interest; (4) establish a standard tax deduction for expenses related to business usage of a home; (5) make permanent increases in the child tax credit and adjust the amount of such credit for inflation on an annual basis after 2007; (6) allow employers a tax credit for employees who telecommute; and (7) allow an exclusion from employee gross income for employer-provided computer equipment used to work at home.
Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to award social security credits to parents who stay at home, instead of working outside the home, to care for children who are either under age seven. Authorizes transfers from the general fund to specified Social Security trust funds to cover the cost of such credits.
Cosponsors 28
Members who signed on, in the order they did. Signatures ran from Mar 8, 2007 to Oct 3, 2007; 16 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-WI | F. James Sensenbrenner, Jr. | Original | Mar 8, 2007 |
| R-CA | George Radanovich | Original | Mar 8, 2007 |
| R-FL | Gus M. Bilirakis | Original | Mar 8, 2007 |
| R-NE | Jeff Fortenberry | Original | Mar 8, 2007 |
| R-FL | Jeff Miller | Original | Mar 8, 2007 |
| R-CO | Marilyn N. Musgrave | Original | Mar 8, 2007 |
| R-IN | Mark E. Souder | Original | Mar 8, 2007 |
| R-TN | Marsha Blackburn | Original | Mar 8, 2007 |
| R-CA | Mary Bono | Original | Mar 8, 2007 |
| R-TX | Michael T. McCaul | Original | Mar 8, 2007 |
| R-TX | Ron Paul | Original | Mar 8, 2007 |
| R-MD | Roscoe G. Bartlett | Original | Mar 8, 2007 |
| R-NJ | Scott Garrett | Original | Mar 8, 2007 |
| R-MI | Thaddeus G. McCotter | Original | Mar 8, 2007 |
| R-AZ | Trent Franks | Original | Mar 8, 2007 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Mar 8, 2007 |
Actions 3
Everything that happened, newest first.
- Mar 8, 2007Introduced in House
- Mar 8, 2007Sponsor introductory remarks on measure. (CR E499-500)
- Mar 8, 2007Referred to the House Committee on Ways and Means.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 816 | Parents' Tax Relief Act of 2007 | Identical bill | Mar 8, 2007 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Internal Revenue Code of 1986 to increase tax benefits for parents with children, and for other purposes.
- Short Titles as Introduced
- Parents' Tax Relief Act of 2007
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Commerce
- Computers
- Cost of living adjustments
- Day care
- Economics and Public Finance
- Education
- Families
- Finance and Financial Sector
- Fringe benefits
- Government trust funds
- Higher education
- Home offices
- Income tax
- Indexing (Economic policy)
- Interest
- Labor and Employment
- Married people
- Old age, survivors and disability insurance
- Parents
- Science, Technology, Communications
- Social Welfare
- Student loan funds
- Survivors' benefits
- Tax credits
- Tax deductions
- Tax exclusion
- Tax exemption
- Tax rates
- Taxation
- Telecommuting
- Wages
Text 1
Each version as it was printed, newest first.
- Mar 8, 2007Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
