HB4571: Child Care Investment Act of 2023
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To amend the Internal Revenue Code of 1986 to expand the employer-provided child care credit and the dependent care assistance exclusion.
Plain-language summary
The Child Care Investment Act of 2023 would change federal tax rules to make employer-provided child care benefits more valuable for workers. The bill expands two existing tax breaks: the employer-provided child care credit (which lets businesses deduct costs of child care they provide or subsidize) and the dependent care assistance exclusion (which lets workers exclude employer-paid child care costs from their taxable income). The bill affects employers, workers with children, and families seeking affordable child care. The bill is currently in the early stage after being introduced in Congress.
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HB4571: Child Care Investment Act of 2023
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Sponsors
Salud Carbajal
Primary SponsorCo-sponsors (45)
Lori Chavez-DeRemer
David Valadao
David Trone
Shri Thanedar
Jennifer McClellan