To amend the Internal Revenue Code of 1986 to expand the earned income tax credit, and for other purposes.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to increase the credit percentage of the earned income tax credit. Allows a supplemental tax credit for individuals with children under the age of five. Authorizes advance tax credit payments by employers based on the number of qualifying children. Requires such employers to collect a certificate or statement of eligibility from the employee. Amends the Social Security Act to eliminate changes in the treatment of earned income credit in determining certain aid to families with dependent children benefits. Provides for phasing out the dependent care credit and the exclusion for dependent care assistance for taxpayers whose incomes exceed $70,000.…