Congressman Lee Terry (R-NE), with Senator Sam Brownback (R-KS), introduced the Parents’ Tax Relief Act of 2007 with more than a dozen other Members of Congress as original cosponsors of the measure.  The bill will provide common-sense tax relief to families with children.

“Parents in today’s world face many challenges rearing children while balancing work and family responsibilities,” Terry said.  “From expectant parents to those with toddlers or school-aged children, families must make sacrifices in order to spend time together and do what is best for their kids.

“The bill will strengthen families by empowering parents who want to spend more time with their children and to choose the best child care arrangements for their preschoolers,” Terry said.

The bill will increase family-friendly employment opportunities such as telecommuting and home-based businesses, and double the personal income tax exemption to help Nebraska families care for their children, and elderly or disabled family members.

The Parents’ Tax Relief Act of 2007 will also make the following family-friendly tax improvements:

• Extends the Dependent Care Tax Credit to stay-at-home parents with young children;
• Makes the $1,000 Child Tax Credit permanent while indexing it to inflation;
• Eliminates the marriage tax penalty once and for all;
• Increases the personal income tax exemption to half of its original 1948 value;
• Protects stay-at-home parents’ Social Security benefits by allowing credits for parents who take a break from the workforce to raise preschool children.

  The Parents’ Tax Relief Act has been endorsed by the Family Research Council; the Telework Coalition; Focus on the Family; American Values; The National Association for the Self-Employed; The National Federation for Independent Business; Concerned Women for America; the Howard Center for Family, Religion and Society; the National Homeowners Grassroots Alliance, and the American Association of Christian Schools, among others.