Search Results: keywords:"credit percentage increase"

  • H. R. 8540 — To amend the Internal Revenue Code of 1986 to enhance the employer-provided child care credit.
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    Status:Introduced in House
    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. 3657 — To amend the Internal Revenue Code of 1986 to enhance the Child and Dependent Care Tax Credit and make the credit fully refundable for certain taxpayers.
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    Status:Introduced in Senate
    Words:1,043

    S. 3657 aims to amend the Internal Revenue Code to improve the Child and Dependent Care Tax Credit. It proposes to increase the credit amount and make it refundable for certain taxpayers, meaning eligible families could receive money back even if they owe no taxes. The bill...

    Simple Explanation

    Here’s a simple story: The big people who make rules about money want to change the way families get help paying for someone to take care of kids while they work. They plan to give more money back to families, even if they don’t owe any money, so they can have enough for their kids' care.