Child Support Tax Act

[AI summary unavailable — showing source text] Child Support Tax Act - Amends the Internal Revenue Code to impose a child support tax on liable absent parents of minor children. Sets the rate of such tax for a parent of one child at 20 percent of the lesser of: (1) such parent's adjusted gross income; or (2) the amount of the contribution and benefit base as determined by title II (Old Age, Survivors and Disability Insurance). Sets the rate of such tax at 30 percent of the lesser of such amounts for the parent of two children and at 40 percent for the parent of three or more children. Requires that such tax be withheld in the same manner as the Federal income tax. Allows up to one percent of such withholding to be applied to the employer's administrative expenses. Amends part D (Child Support and Establishment of Paternity) of title IV of the Social Security Act to provide Federal child support benefits to eligible children of liable absent parents. Sets forth the rate of such benefits for calendar year 1987. Provides for annual increases in such benefits beginning in calendar year 1988. Bases such increase on the percentage increase (if any) in the average of the total wages reported for the preceding calendar year. Limits the…