[20190326]IN11089_《美国家庭法》将如何改变儿童税收抵免？.pdf

CRS INSIGHT Prepared for Members and Committees of Congress INSIGHTINSIGHTi i How Would the American Family Act Change the Child Tax Credit? Margot L. Crandall-Hollick Specialist in Public Finance March 26, 2019 The American Family Act (AFA; S. 690/H.R. 1560) would significantly expand the child tax credit for low- and moderate-income taxpayers, especially those with young children. It also would eliminate the expanded child tax credit for higher-income families in effect from 2018 to 2025 as a result of P.L. 115-97. This Insight describes some of the major changes that would be made to the child tax credit by this legislation. Current Law Under current law, eligible taxpayers can subtract up to $2,000 per qualifying child from their federal income tax liability. (See CRS Report R41873, The Child Tax Credit: Current Law.) A qualifying child is generally the taxpayers dependent child who is under 17 years of age. The maximum amount of credit a family can receive is equal to the number of qualifying children in a family multiplied by $2,000. If a familys tax liability is less than the value of their child tax credit, they may be eligible for a refundable child credit calculated using