Bill > HR6100

This bill, the Middle Class Tax Cut Protection Act of 2012, extends certain tax relief measures originally enacted in 2001 and 2003 through the end of 2014, aiming to protect middle-class taxpayers. Specifically, it extends the general expiration date of the Economic Growth and Tax Relief Reconciliation Act of 2001 and the reduced tax rates for dividend and capital gain income established by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Additionally, it continues through 2014 enhanced versions of the American Opportunity tax credit (for education expenses), the refundable portion of the child tax credit (meaning a larger amount can be received as a refund if the credit exceeds tax liability), and the earned income tax credit (a tax credit for low-to-moderate income working individuals and families) for those with three or more qualifying children. However, these extended tax benefits are not available to taxpayers with incomes exceeding $250,000.