JCX-33-23 (June 12, 2023)
Present Law And Background Relating To Certain Individual Income Tax Credits
The Senate Committee on Finance has scheduled a public hearing on June 14, 2023, entitled “Anti-Poverty and Family Support Provision in the Tax Code.” The staff of the Joint Committee on Taxation provides general background on several individual tax credits; the child tax credit, the earned income tax credit, and the child and dependent care tax credit. This document describes the provisions under present law and under prior law as enacted by the Public Law 117-2, the American Rescue Plan Act of 2021 (“ARPA”).
The Senate Committee on Finance has scheduled a public hearing on June 14, 2023, entitled “Anti-Poverty and Family Support Provision in the Tax Code.” The staff of the Joint Committee on Taxation provides general background on several individual tax credits; the child tax credit, the earned income tax credit, and the child and dependent care tax credit. This document describes the provisions under present law and under prior law as enacted by the Public Law 117-2, the American Rescue Plan Act of 2021 (“ARPA”).
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