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.