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A little over a month before Tax Day, Sen. Sam Brownback (R-Kans.) and Rep. Lee Terry (R-Nebr.) have introduced some timely legislation to help families cope with Uncle Sam.
Rather than punish parents who are
already making financial sacrifices to spend time with their children, Brownback and Terry have introduced the Parents' Tax Relief Act (PTRA) of 2007. Under their bill, the generous income tax credit that is currently limited to parents who pay for out- of-the-home day care would be broadened to include families who choose at-home parenting. This legislation would help to equalize the tax code for parents who work split shifts or have a mother or father in the home full-time. Now for even better news. PTRA was also designed to fully eliminate the marriage tax penalty, make the $1,000-per child tax credit permanent, and increase the tax exemptions for families who care for elderly relatives.
In an era when taxes seldom expire but tax breaks do, this bill would give families immediate and lasting relief.
FRC's Vice President for Government Affairs, Tom McClusky, spoke on behalf of the legislation at a Capitol Hill press conference today. Advancing a family-friendly tax code has been one of FRC's proudest achievements. The child tax credit, is now responsible for retaining hundreds of billions of dollars for families across the country.
Now it's up to Congress to ensure that the legacy of alleviating the family tax burden lives on.
This is a great bill, designed to help those parents who if at all possible, want to stay home and be a full time parent to their children, forsaking the extra money of a second income.
And its no secret that the best interest of children is served in having full time parent(s). Most don't need a study to conclude that fact but there are plenty out there that confirm it, if you do!
Senator Brownback as most know, is a Presidential candidate of the Republican party.
His web site is http://www.brownback.com/s/
Sam Browback On the Issues can be found here http://www.ontheissues.org/Senate/Sam_Brownback.htm
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