,i #aafth ,,congress #ast ,session ,h4 ,r4 #bb ,,in ,,the ,,house ,,of ,,representatives ,january #c1 #bjai,mr4 ,brady introduced the following bill2 which was referred to the ,committee on ,ways and ,means ,a ,,bill ,to amend the ,internal ,revenue ,code of #aihf to make permanent the increase in the standard deduction1 the increase in and modifications of the child tax credit1 and the repeal of the deduction for personal exemptions contained in ,public ,law #aae-ig4 #a4 ,increase in standard deduction 7a7 ,in general ,section #fc7;c77#b7 of the ,internal ,revenue ,code of #aihf is amended-- 7#a7 by striking #d1djj in subparagraph 7,b7 and inserting #ah1jjj2 and 7#b7 by striking #c1jjj in subparagraph 7,c7 and inserting #ab1jjj4 7b7 ,inflation adjustment ,section #fc7;c77#d7 of such ,code is amended to read as follows3 7#d7 ,adjustments for inflation 7,a7 ,in general ,in the case of a taxable year beginning after #bjah1 each dollar amount in paragraph 7#b77;,b71 7#b77;,c71 or 7#e7 or subsection 7f7 shall be increased by an amount equal to-- 7i7 such dollar amount1 multiplied by 7ii7 the cost-of-living adjustment determined under section #a7;f77#c7 for the calendar year in which the taxable year begins1 determined by substituting for #bjaf in subparagraph 7,a77ii7 thereof-- 7,i7 in the case of the dollar amounts contained in paragraph 7#b77;,b7 or 7#b77;,c71 #bjag1 7,,ii7 in the case of the dollar amounts contained in paragraph 7#e77;,a7 or subsection 7f71 #aihg1 and 7,,iii7 in the case of the dollar amount contained in paragraph 7#e77;,b71 #aiig4 7,b7 ,rounding ,if any increase under subparagraph 7,a7 is not a multiple of #ej1 such increase shall be rounded to the next lowest multiple of #ej4 4 7c7 ,conforming amendments 7#a7 ,section #a7;f77#g77;,a7 of such ,code is amended by striking section #fc7;c77#d714 7#b7 ,section #a7;f77#g77;,b7 of such ,code is amended by striking sections #fc7;c77#d7 and and inserting section4 7#c7 ,section #fc7;c7 of such ,code is amended by striking paragraph 7#g74 7d7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjag4 #b4 ,increase in and modification of child tax credit 7a7 ,in general ,section #bd of the ,internal ,revenue ,code of #aihf is amended by striking subsections 7a71 7b71 and 7c7 and inserting the following new subsections3 7a7 ,allowance of credit ,there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the sum of-- 7#a7 #b1jjj for each qualifying child of the taxpayer1 and 7#b7 #ejj for each qualifying dependent 7other than a qualifying child7 of the taxpayer4 7b7 ,limitation based on adjusted gross income ,the amount of the credit allowable under subsection 7a7 shall be reduced 7but not below zero7 by #ej for each #a1jjj 7or fraction thereof7 by which the taxpayer's modified adjusted gross income exceeds #djj1jjj in the case of a joint return 7#bjj1jjj in any other case74 ,for purposes of the preceding sentence1 the term modified adjusted gross income means adjusted gross income increased by any amount excluded from gross income under section #iaa1 #ica1 or #icc4 7c7 ,qualifying child2 qualifying dependent ,for purposes of this section-- 7#a7 ,qualifying child ,the term qualifying child means any qualifying dependent of the taxpayer-- 7,a7 who is a qualifying child 7as defined in section #ggjf7;c77 of the taxpayer1 7,b7 who has not attained age #ag at the close of the calendar year in which the taxable year of the taxpayer begins1 and 7,c7 whose name and social security number are included on the taxpayer's return of tax for the taxable year4 7#b7 ,qualifying dependent ,the term qualifying dependent means any dependent of the taxpayer 7as defined in section #ggjf without regard to all that follows resident of the ,united ,states in section #ggjf7;b77#c77;,a77 whose name and ,,tin are included on the taxpayer's return of tax for the taxable year4 7#c7 ,social security number defined ,for purposes of this subsection1 the term social security number means1 with respect to a return of tax1 a social security number issued to an individual by the ,social ,security ,administration1 but only if the social security number is issued-- 7,a7 to a citizen of the ,united ,states or pursuant to subclause 7,i7 7or that portion of subclause 7,,iii7 that relates to subclause 7,i77 of section #bje7;c77#b77;,b77i7 of the ,social ,security ,act1 and 7,b7 on or before the due date of filing such return4 4 7b7 ,portion of credit refundable 7#a7 ,in general ,section #bd7;d77#a77;,a7 of the ,internal ,revenue ,code of #aihf is amended to read as follows3 7,a7 the credit which would be allowed under this section determined-- 7i7 by substituting #a1djj for #b1jjj in subsection 7a77#a71 7ii7 without regard to subsection 7a77#b71 and 7iii7 without regard to this subsection and the limitation under section #bf7;a71 or 4 7#b7 ,modification of limitation based on earned income ,section #bd7;d77#a77;,b77i7 of such ,code is amended by striking #c1jjj and inserting #b1ejj4 7#c7 ,inflation adjustment ,section #bd7;d7 of such ,code is amended by inserting after paragraph 7#c7 the following new paragraph3 7#d7 ,adjustment for inflation 7,a7 ,in general ,in the case of a taxable year beginning after #bjah1 the #a1djj amount in paragraph 7#a77;,a77i7 shall be increased by an amount equal to-- 7i7 such dollar amount1 multiplied by 7ii7 the cost-of-living adjustment determined under section #a7;f77#c7 for the calendar year in which the taxable year begins1 determined by substituting #bjag for #bjaf in subparagraph 7,a77ii7 thereof4 7,b7 ,rounding ,if any increase under subparagraph 7,a7 is not a multiple of #ajj1 such increase shall be rounded to the next lowest multiple of #ajj4 7,c7 ,limitation ,the amount of any increase under subparagraph 7,a7 7after the application of subparagraph 7,b77 shall not exceed #fjj4 4 7#d7 ,conforming amendments 7,a7 ,section #bd7;e7 of such ,code is amended to read as follows3 7e7 ,taxpayer identification requirement ,no credit shall be allowed under this section if the identifying number of the taxpayer was issued after the due date for filing the return of tax for the taxable year4 4 7,b7 ,section #bd of such ,code is amended by striking subsection 7h74 7c7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjag4 #c4 ,elimination of deduction for personal exemptions 7a7 ,in general ,section #aea7;d77#e7 of the ,internal ,revenue ,code of #aihf is amended by striking 1 and before ,january #a1 #bjbf4 7b7 ,conforming amendments 7#a7 ,section #aeb7;d77#a77;,b7 is amended by inserting after section #aea7;d77 the following3 or1 in the case of a taxable year for which the exemption amount is zero1 the dollar amount in effect for the taxable year under section #fccd7;d77#d77;,b74 7#b7 ,the heading of section #aea7;d77#e7 of such ,code is amended by striking #bjah through #bjbe and inserting after #bjag4 7#c7 ,the second sentence of section #fccd7;d77#d77;,c7 is amended by striking #ajj each place it appears and inserting #ej4 7c7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjag4