Strengthen Maine Families with Children by Changing the Income Tax Laws

Last updated: Apr 15, 2018

Details about this bill
Category: Taxation
Status: Defeated
Sponsor: Representative Kenneth Fredette, House 25
Session: 128
Bill #: LD 1758

Position:

Monitoring

Summary:

This bill, for tax years beginning in or after 2018:

1. Doubles the amount of the earned income tax credit a taxpayer may claim to 10% of the federal earned income credit; and

2. Enacts a new child tax credit to allow a taxpayer a credit in an amount equal to the federal child tax credit, which is an amount up to $1,000 for each qualifying child the taxpayer supports during the tax year. The credit is refundable only to the extent that the federal additional child tax credit is refundable and only for individuals filing as residents or part-year residents.