Summary

S. 3680: A bill to amend the Internal Revenue Code of 1986 to modify and extend the making work pay credit. Read More

Status

This bill was introduced on Dec 13, 2012, in a previous session of Congress, but was not passed.

Tags

Date Introduced
Dec 13, 2012

Bill Text

A BILL

To amend the Internal Revenue Code of 1986 to modify and extend the making work pay credit.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``2013 Making Working Pay Credit Act''.

SEC. 2. EXTENSION AND MODIFICATION OF MAKING WORK PAY CREDIT.

(a) Extension.-- (1) In general.--Subsection (e) of section 36A of the Internal Revenue Code of 1986 is amended to read as follows: ``(e) Termination.--This section shall not apply-- ``(1) to taxable years beginning after December 31, 2010, and before January 1, 2013, and ``(2) to taxable years beginning after December 31, 2013.''. (2) Treatment of possessions.--Paragraph (1) of section 1001 of division B of the American Recovery and Reinvestment Act of 2009 is amended by striking ``beginning in 2009 and 2010'' each place it appears and inserting ``to which section 36A of the Internal Revenue Code of 1986 applies''. (b) Modification of Credit.-- (1) Credit amount.--Subsection (a) of section 36A of such Code is amended-- (A) in paragraph (1), by striking ``6.2 percent'' and inserting ``6.0 percent'', and (B) in paragraph (2), by striking ``$400 ($800'' and inserting ``$800 ($1,600''. (2) Limitation based on modified adjusted gross income.-- (A) In general.--Section 36A(b) of such Code is amended by redesignating paragraph (2) as paragraph (3) and by striking paragraph (1) and inserting the following: ``(1) In general.--The amount allowable as a credit under subsection (a) (determined without...

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