Sec. 4. Expansion of tax credit

279 words·~1 min read·/bill/116/hr/2000/ih/section-4

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Subparagraph

(A)of section 36B(c)(1) of the Internal Revenue Code of 1986 is amended by striking but does not exceed 400 percent . Clause

(i)of section 36B(b)(3)(A) of the Internal Revenue Code of 1986 is amended to read as follows: The applicable percentage for any taxable year shall be the percentage such that the applicable percentage for any taxpayer whose household income is within an income tier specified in the following table shall increase, on a sliding scale in a linear manner, from the initial premium percentage to the final premium percentage specified in such table for such income tier: In the case of household income (expressed as a percent of poverty line) within the following income tier: The initial premium percentage is— The final premium percentage is— Up to 138 percent 1.5 1.5 138 percent up to 150 percent 2.5 3.5 150 percent up to 200 percent 3.5 5.8 200 percent up to 250 percent 5.8 7.55 250 percent up to 300 percent 7.55 9.0 300 percent up to 400 percent 9.0 9.0 400 percent up to 600 percent 9.0 13.0 600 percent and up 13.0 13.0. . Clause

(i)of section 36B(f)(2)(B) of the Internal Revenue Code of 1986 is amended— by striking In the case of a taxpayer and all that follows through the amount of the increase and inserting The amount of the increase ; by striking the period at the end of the last row of the table; and by adding at the end of the table the following new row: 400 percent and up $5,000. . The amendments made by this section shall apply to taxable years beginning after December 31, 2019.