The Joint Committee on Taxation (JCT) -- the official non-partisan Congressional tax scorekeeper -- notified Congressman Sam Johnson (R-TX) that his recently re-introduced legislation, H.R. 556, the Refundable Child Tax Credit Eligibility Verification Reform Act of 2013, will save American taxpayers an estimated $24.4 billion over the next ten years.
Johnson's common-sense bill seeks to prevent abuse of the $1,000 refundable child tax credit by requiring tax filers to provide their Social Security numbers for the credit.
"This is great news for hard-working taxpayers. My bill is just one example of the billions of dollars in waste, fraud and abuse. Instead of hitting up taxpayers for even more taxes, Washington needs to go after these billions of dollars. We must take action now to protect these precious taxpayer dollars," said Johnson.
For more information, click here to read Johnson's release on the re-introduction of the bill.