H.R. 2533 · 115th Congress
Working Parents Flexibility Act of 2017
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
KatkoSponsor2 cosponsors · 1 D, 1 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Internal Revenue Code to establish a tax-exempt parental leave savings account for the care of a child, to which an individual taxpayer who has earned income from employment during the past 12 months may make tax deductible cash contributions of up to $6,750 in a taxable year and not more than an aggregate of $24,000 for all taxable…
What it does: CRS summary · Introduced in House · May 18, 2017
Working Parents Flexibility Act of 2017
This bill amends the Internal Revenue Code to establish a tax-exempt parental leave savings account for the care of a child, to which an individual taxpayer who has earned income from employment during the past 12 months may make tax deductible cash contributions of up to $6,750 in a taxable year and not more than an aggregate of $24,000 for all taxable years. Taxpayers whose adjusted gross income exceeds $250,000 in a taxable year are ineligible for such a tax deduction.
The bill excludes from gross income: (1) distributions from a parental leave savings account that are made not later than one year after the birth or adoption of a child of an account holder, and (2) contributions made by an employer to the parental leave savings account of an employee.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Working Parents Flexibility Act of 2017
Latest action (May 18, 2017): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: May 18, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.