Search Results: keywords:"employer-provided child care credit"

  • S. 5254 — To amend the Internal Revenue Code of 1986 to enhance the employer-provided child care credit.
    💰
    Status:Introduced in Senate
    Words:923

    The bill, titled the “Child Care for American Families Act,” amends the Internal Revenue Code to increase the employer-provided child care credit. It proposes changes to the credit percentage for businesses, setting it at 40% generally, but offering higher rates of 50% for small businesses...

    Simple Explanation

    The Child Care for American Families Act is a plan that helps businesses by giving them money back for taking care of their workers' kids, with smaller businesses and some special areas getting extra help. It's like when someone gives you more stickers for doing a special job, and this plan makes sure more people know about these stickers and how to get them.

  • H. R. 1426 — To amend the Internal Revenue Code of 1986 to increase the amount allowed as a credit under the expenses for household and dependent care services credit and the employer-provided child care credit.
    💰
    Status:Introduced in House
    Words:308

    H. R. 1426 proposes changes to the Internal Revenue Code of 1986 to increase certain tax credits related to child care. It aims to double the currently permitted amount for the household and dependent care services credit, raising the limit from $3,000 to $6,000 for one...

    Simple Explanation

    The bill wants to help families by giving them more money back when they pay for someone to take care of their kids or family members, and it also lets businesses help more with child care without paying extra taxes.