,,ii  #aadth ,,congress  #ast ,session  
,s4 #ffj  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,march #d1          
#bjae,mrs4 ,murray 7for herself1 ,mr4   
,reed1 ,mr4 ,brown1 ,mr4 ,durbin1 ,mr4  
,reid1 ,mr4 ,schumer1 ,mrs4 ,shaheen1   
,ms4 ,stabenow1 ,mr4 ,wyden1 and ,mrs4  
,gillibrand7 introduced the following   
bill2 which was read twice and referred 
to the ,committee on ,finance  ,a ,,bill
  ,to amend the ,internal ,revenue ,code
 of #aihf to establish a credit for     
married couples who are both employed   
and have young children4  #a4 ,short    
title ,this ,act may be cited as the    
#bast ,century ,worker ,tax ,cut ,act4  
#b4 ,credit for dual-earner families    
7a7 ,in general ,subpart ,a of part ,,iv
 of subchapter ,a of chapter #a of the  
,internal ,revenue ,code of #aihf is    
amended by inserting after section      
#be;,d the following new section3       
#be;,e4 ,dual-earner families  7a7      
,allowance of credit ,in the case of an 
eligible taxpayer1 there shall be       

allowed as a credit against the tax     
imposed by this chapter for the taxable 
year an amount equal to #aj percent of  
the lesser of--  7#a7 #aj1jjj1 or  7#b7 
the earned income of the spouse with the
 lower amount of earned income for such 
taxable year4  7b7 ,limitation ,the     
amount of the credit allowable under    
subsection 7a7 shall be reduced 7but not
 below zero7 by an amount which bears   
the same ratio to the amount determined 
under subsection 7a7 7as determined     
without regard to this subsection7 as   
the amount of the taxpayer's excess     
adjusted gross income bears to #bj1jjj4 
7c7 ,definitions ,in this section3 7#a7 
,earned income ,the term earned income  
has the same meaning given such term in 
section #cb7;c77#b74  7#b7 ,eligible    
taxpayer  7,a7 ,in general ,the term    
eligible taxpayer means a taxpayer who--
 7i7 files a joint return for the       
taxable year under section #fjac1 and   
7ii7 has at least #a qualifying child   
7as defined in section #aeb7;c77 who has

 not attained #ab years of age before   
the close of the taxable year4  7#c7    
,excess adjusted gross income ,the term 
excess adjusted gross income means the  
amount of the eligible taxpayer's       
adjusted gross income 7as defined in    
section #fb1 determined without regard  
to this section7 that exceeds #aaj1jjj  
for the taxable year4  7d7 ,inflation   
adjustment  7#a7 ,in general ,in the    
case of any taxable year beginning after
 #bjaf1 each of the dollar amounts in   
subsections 7a77#a7 and 7c77#c7 shall be
 increased by an amount equal to--  7,a7
 such dollar amount1 multiplied by  7,b7
 the cost-of-living adjustment          
determined under section #a7;f77#c7 for 
the calendar year in which the taxable  
year begins1 determined by substituting 
calendar year #bjae for calendar year   
#aiib in subparagraph 7,b7 thereof4     
7#b7 ,rounding ,if any dollar amount in 
subsection 7a77#a7 or 7c77#c71 after    
being increased under paragraph 7#a71 is
 not a multiple of #a1jjj1 such dollar  

amount shall be rounded to the nearest  
multiple of #a1jjj4  7e7 ,additional    
eligibility requirements  7#a7          
,individual claiming benefits under     
section #iaa ,no credit shall be allowed
 under this section if an individual 7or
 the individual's spouse7 claims the    
benefits of section #iaa for the taxable
 year4  7#b7 ,non-resident aliens ,no   
credit shall be allowed under this      
section if an individual 7or the        
individual's spouse7 is a nonresident   
alien individual for any portion of the 
taxable year unless such individual is  
treated for such taxable year as a      
resident of the ,united ,states for     
purposes of this chapter by reason of an
 election under subsection 7g7 or 7h7 of
 section #fjac4  7#c7 ,identification   
number requirement ,no credit shall be  
allowed under this section if the       
eligible taxpayer does not include on   
the joint return of tax for the taxable 
year--  7,a7 the taxpayer identification
 number of the individual and the       

individual's spouse1 and  7,b7 the name1
 age1 and taxpayer identification number
 of any qualifying children4  7f7       
,taxable year must be full taxable year 
,except in the case of a taxable year   
closed by reason of the death of an     
individual1 no credit shall be allowable
 under this section in the case of a    
taxable year covering a period of less  
than #ab months4  4  7b7 ,enhancement of
 earned income tax credit ,section #cb  
of such ,code is amended-- 7#a7 in      
subsection 7a77#b77;,b71 by striking    
earned income and inserting modified    
earned income 7as defined in subsection 
7c77#e771 and  7#b7 in subsection 7c71  
by adding at the end the following new  
paragraph3  7#e7 ,modified earned income
 ,the term modified earned income means 
an amount equal to the earned income of 
the taxpayer minus an amount equal to   
the product of--  7,a7 the amount of any
 credit allowed to the taxpayer under   
section #be;,e for the taxable year1    
multiplied by  7,b7 #aj4  4  7c7        

,conforming amendment ,the table of     
sections for subpart ,a of part ,,iv of 
subchapter ,a of chapter #a of the      
,internal ,revenue ,code of #aihf is    
amended by inserting after the item     
relating to section #be;,d the          
following3  ,sec4 #be;,e4 ,dual-earner  
families4  4  7d7 ,effective date ,the  
amendments made by this section shall   
apply to taxable years beginning after  
the date of the enactment of this ,act4