S. 5254 · 118th Congress
Child Care for American Families Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
BennetSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill increases and revises the employer-provided child care tax credit. It increases the rate of such credit from 25% to 40% (50% for certain small businesses and 60% for child care facilities located in an eligible census track).
What it does: CRS summary · Introduced in Senate · Sep 25, 2024
Child Care for American Families Act
This bill increases and revises the employer-provided child care tax credit. It increases the rate of such credit from 25% to 40% (50% for certain small businesses and 60% for child care facilities located in an eligible census track).
The bill increases the limitation on the dollar amount of the credit to $1.2 million in any taxable year and imposes a $2 million limit on the aggregate amount of child care expenditures that may be taken into account for purposes of calculating the credit.
The bill directs the Internal Revenue Service to issue guidance regarding multi-employer facilities and to establish a public awareness program to inform taxpayers about the availability of the child care credit and filing procedures for such credit.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Child Care for American Families Act
Latest action (Sep 25, 2024): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Sep 25, 2024
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.