Search Results: keywords:"dependent care assistance programs"

  • H. R. 1408 — To amend the Internal Revenue Code of 1986 to double the value of certain tax benefits relating to children and dependents.
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    Status:Introduced in House
    Words:443

    H.R. 1408, also known as the "Affordable Child Care Act," aims to amend the Internal Revenue Code of 1986 by doubling certain tax benefits related to childcare and dependents. The bill proposes to increase the child and dependent care credit by raising the maximum amounts from $3,000 to...

    Simple Explanation

    The bill wants to help families by giving them more money back when they take care of kids or dependents. It plans to double the amount of some tax credits, meaning families and businesses can get more financial help to pay for childcare and related expenses.

  • H. R. 413 — To amend the Internal Revenue Code of 1986 to index dependent care assistance programs to inflation.
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    Status:Introduced in House
    Words:417

    The H.R. 413 bill proposes changes to the Internal Revenue Code of 1986 to address the impact of inflation on dependent care assistance programs. Specifically, it aims to increase the maximum contribution limit from $5,000 to $10,000 for these programs. Additionally, the bill...

    Simple Explanation

    The bill H.R. 413 wants to change the rules so that families can save more money, up to $10,000 a year, to help pay for things like babysitters or daycare, and make sure this amount goes up a bit every year to keep up with rising prices. This would start happening in 2025, and it could mean the government gets a bit less money in taxes because people are saving more in these special accounts.