H.R. 7465 aims to amend the Internal Revenue Code to account for inflation in dependant care assistance programs. The bill proposes to increase the maximum contribution limits to these programs, raising them from $5,000 to $10,000, and introduces a cost-of-living adjustment...
Simple Explanation
H.R. 7465 is a bill that wants to help families pay for taking care of their kids by letting them put more money aside that grows over time. It also wants to make sure this money goes up as things get more expensive, like when you get more allowance when candy costs more.