Search Results: keywords:"dependent care assistance"

  • H. R. 7465 — To amend the Internal Revenue Code of 1986 to index dependant care assistance programs to inflation.
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    Status:Introduced in House
    Words:407

    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.

  • S. 4874 — To amend the Internal Revenue Code of 1986 to expand the employer-provided child care credit and the dependent care assistance exclusion.
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    Status:Introduced in Senate
    Words:2,980

    The bill, titled the "Child Care Availability and Affordability Act," proposes amendments to the Internal Revenue Code to make child care more affordable for working parents. It increases the employer-provided child care credit from 25% to 50% and raises the maximum credit amount from...

    Simple Explanation

    The Child Care Availability and Affordability Act is a plan to help parents have more money for child care by giving bigger tax breaks to businesses that help with child care and making it less expensive for families to pay for someone to take care of their kids while they work.

  • S. 5412 — To amend the Internal Revenue Code of 1986 to increase the amount excludable for dependent care assistance programs.
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    Status:Introduced in Senate
    Words:206

    S. 5412 proposes to amend the Internal Revenue Code of 1986 by increasing the amount of money that can be excluded from taxable income for dependent care assistance programs. The bill seeks to raise the current exclusion limit from $5,000 ($2,500 for married individuals...

    Simple Explanation

    Congress wants to make it easier for families to pay for someone to take care of their kids while they work by letting parents keep more of their money without paying taxes on it. They want to change a rule so parents can keep a bigger chunk of their money from taxes when they spend it on someone helping with their kids.