Federal Legislation
February 23, 2011

H.R. 508—“Child Tax Credit Preservation Act of 2011”

Action Requested:
No action is requested at this time. HSLDA will continue to monitor this bill and will send out an elert if the bill comes up for a hearing.

Summary:
If H.R. 508 became law, it would make the child tax credit permanent in the Internal Revenue Code of 1986 and allow adjustments for inflation.

Status:

1/26/2011Referred to House on Ways and Means

Sponsor: Representative Bill Posey (FL-15))

Bill Summary and Status H.R. 508

HSLDA’s Position:
Support

Talking Points:

H.R. 508 would repeal sections of the Economic Growth and Tax Relief Reconciliation Act of 2001 and allow child tax credits to be permanent.

H.R. 508 would also adjust credits due to inflation. The credits’ dollar amount would be multiplied by the cost-of-living adjustment and then rounded to the nearest multiple of $50.

Numerous homeschool families already use the child tax credit. HSLDA supports this tax credit and H.R. 508 for continuing to give homeschool families this option.