Child Care Investment Act of 2023

Summary

Child Care Investment Act of 2023 This bill increases the employer-provided child care tax credit, the amount excludable from gross income for dependent care flexible spending accounts, and makes the household and dependent care tax credit refundable. Among other provisions, the bill increases the rate of the employer-provided child care tax credit from 25% to 50% and increases the maximum credit amount from $150,000 to $500,000. It also increases (1) the pre-tax deduction for dependent care flexible spending accounts from $5,000 to $10,000, plus an additional $2,000 for each eligible dependent; and (2) the rate of the household and dependent care tax credit and makes such credit refundable.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 12 July 2023

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• Introduced in House (PDF)

  Introduced in House · EN · 12 July 2023

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• Introduced in House

  summary · EN · 12 July 2023

  Open at official source

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