ENHANCED EARNED INCOME TAX CREDIT MADE PERMANENT.

SEC. 103. ENHANCED EARNED INCOME TAX CREDIT MADE PERMANENT. (a) [26 U.S.C. 32] Increase in Credit Percentage for 3 or More Qualifying Children Made Permanent.—Section 32(b)(1) is amended to read as follows: “(1) Percentages.—The credit percentage and the phaseout percentage shall be determined as follows: ``In the case of an eligible individual with:The credit percentage is:The phaseout percentage is:1 qualifying child3415.982 qualifying children4021.063 or more qualifying children4521.06No qualifying children7.657.65''. (b) Reduction of Marriage Penalty Made Permanent.— (1) In general.—Section 32(b)(2)(B) is amended to read as follows: “(B) Joint returns.— “(i) In general.—In the case of a joint return filed by an eligible individual and such individual’s spouse, the phaseout amount determined under subparagraph (A) shall be increased by $5,000. “(ii) Inflation adjustment.—In the case of any taxable year beginning after 2015, the $5,000 amount in clause (i) shall be increased by an amount equal to— “(I) such dollar amount, multiplied by “(II) the cost of living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins determined by substituting ‘calendar year 2008’ for ‘calendar year 1992’ in subparagraph (B) thereof. “(iii) Rounding.—Subparagraph (A) of subsection (j)(2) shall apply after taking into account any increase under clause (ii).” . (c) Conforming Amendment.—Section 32(b) is amended by striking paragraph (3). (d) [26 U.S.C. 32 note] Effective Date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2015.