,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #bhjb  ,,in ,,the ,,house ,,of  
,,representatives  ,april #i1 #bjbe,mr4 
,vasquez 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
 provide individuals a refundable credit
 for a portion of ,federal income tax   
liability for #bjbe4  #a4 ,short title  
,this ,act may be cited as the ,tax     
,relief from ,tariffs and ,high ,costs  
,act4  #b4 ,refundable credit for       
portion of individual ,federal income   
tax liability for #bjbe  7a7 ,in general
 ,subpart ,c of part ,,iv of subchapter 
,a of chapter #a of the ,internal       
,revenue ,code of #aihf is amended by   
adding at the end the following new     
section3  #cf;,c4 ,credit for portion of
 individual ,federal income tax         
liability for #bjbe  7a7 ,in general ,in
 the case of an individual1 there shall 
be allowed as a credit against the tax  
imposed by this subtitle for any taxable

 beginning after ,december #ca1 #bjbd1  
and before ,january #a1 #bjbf1 an amount
 equal to #aj percent of the taxpayer's 
,federal income tax liability for such  
taxable year4  7b7 ,limitation based on 
modified adjusted gross income          
,subsection 7a7 shall not apply to any  
taxpayer for any taxable year if the    
taxpayer's modified adjusted gross      
income 7as defined in section           
#cf7;b77#b77;,b77 exceeds #ajj1jjj      
7#bjj1jjj in the case of a joint        
return74  7c7 ,federal income tax       
liability ,for purposes of this section1
 the term ,federal income tax liability 
means the excess 7if any7 of-- 7#a7 the 
sum of the amounts described in         
paragraphs 7#a7 and 7#b7 of section     
#bf7;a71 over  7#b7 the sum of the      
credits allowed under subpart ,a of this
 part4  4  7b7 ,conforming amendments   
7#a7 ,section #fbaa7;b77#d77;,a7 of the 
,internal ,revenue ,code of #aihf is    
amended by inserting #cf;,c1 after      
#cf;,b14  7#b7 ,paragraph 7#b7 of       

section #acbd7;b7 of title #ca1 ,united 
,states ,code1 is amended by inserting  
#cf;,c1 after #cf;,b14  7#c7 ,the table 
of sections for subpart ,c 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 #cf;,b the following
 new item3  ,sec4 #cf;,c4 ,credit for   
portion of individual ,federal income   
tax liability for #bjbe4  4  7c7        
,effective date ,the amendments made by 
this section shall apply to taxable     
years beginning after ,december #ca1    
#bjbd4