[20030130]RS20988_2001年《经济增长和税收减免和解法案》之后的儿童税收抵免.pdf

Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS20988Updated January 30, 2003The Child Tax Credit After the Economic Growth and Tax Relief Reconciliation Act of 2001Gregg EsenweinSpecialist in Public FinanceGovernment and Finance DivisionSummaryThe Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA)increases the child tax credit from its prior law level of $500 to $1,000. This increaseis phased in gradually over a 10-year period. The 2001 Act also makes the creditrefundable for all families and changes how the refundability of the credit is calculated.Finally, the 2001 Act allows the child tax credit to be taken in full against both anindividuals regular and alternative minimum tax. The EGTRRA tax cuts are scheduled to expire at the end of calendar year 2010.In the 107th Congress, the House passed several bills that would have extended theEGTRRA tax cuts beyond 2010. The Senate did not adopt these bills. It is likely thatthe 108th Congress will revisit the issue of making the EGTRRA tax cuts permanent.Additionally, in response to continued sluggish economic performance, PresidentBush unveiled a new