Search Results: keywords:"refundable credits"

  • H. R. 1827 — 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 House
    Words:2,989

    H.R. 1827, titled the “Child Care Availability and Affordability Act,” seeks to amend the Internal Revenue Code of 1986 to enhance benefits related to child care. It proposes to increase the employer-provided child care credit from 25% to 50% and raises the maximum credit from $150,000 to...

    Simple Explanation

    The bill is like a plan to help moms and dads pay for places where their kids are taken care of while they work. It tries to make it so companies can get more money back if they help with child care, and it also lets families use more of their money without getting taxed when they spend on babysitters and daycares.

  • H. R. 463 — To amend the Internal Revenue Code of 1986 to expand the earned income and child tax credits, and for other purposes.
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    Status:Introduced in House
    Words:15,117

    The bill H. R. 463, titled "Lower Your Taxes Act," aims to amend the Internal Revenue Code of 1986 to expand the earned income and child tax credits. This includes increasing the eligibility and benefits of these credits, allowing refundable child tax credits with monthly advance payments,...

    Simple Explanation

    The bill, called the "Lower Your Taxes Act," wants to give more money back to families and people who earn less by expanding special tax credits. It also includes making some people and businesses pay more taxes, all to help our country have less debt.