Search Results for keywords:"child care tax credit"

Search Results: keywords:"child care tax credit"

H. R. 8540 — To amend the Internal Revenue Code of 1986 to enhance the employer-provided child care credit.
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May 23, 2024
Status:Introduced in House
Congress:118
Words:946
H.R. 8540, titled the "Child Care for American Families Act," aims to amend the Internal Revenue Code to increase the tax credit for employer-provided child care. Under this bill, the credit percentage will rise to 40%, with even higher rates of 50% for small businesses and...
Simple Explanation
H.R. 8540 is like giving big stickers to businesses that help take care of kids for their workers, letting them get even bigger rewards if they’re small businesses or in special places, while making sure everyone knows about it.
S. 3787 — To amend the Internal Revenue Code of 1986 to increase the credit for employers establishing workplace child care facilities, to increase the child care credit to encourage greater use of quality child care services, to provide incentives for students to earn child care-related degrees and to work in child care facilities, and to increase the exclusion for employer-provided dependent care assistance.
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February 08, 2024
Status:Introduced in Senate
Congress:118
Words:1,571
S. 3787, known as the “Right Start Child Care and Education Act of 2024,” proposes amendments to the Internal Revenue Code aimed at supporting child care in various ways. The bill plans to increase the tax credit for employers who establish workplace child care facilities,...
Simple Explanation
The "Right Start Child Care and Education Act of 2024" is a plan to help families and businesses with child care by giving more money back through taxes to those who set up child care places at work, use good child care services, or study to work in child care. It also helps parents by allowing more of their salaries to go towards taking care of their kids without having to pay taxes on that money.

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