PACE Act

Summary

Promoting Affordable Childcare for Everyone Act or the PACE Act This bill amends the Internal Revenue Code, with respect to the tax credit for expenses for household and dependent care services necessary for gainful employment (known as the Child and Dependent Care Tax Credit), to: (1) make the credit refundable, (2) increase the rate for the credit, and (3) require the dollar amounts for such credit to be adjusted for inflation after 2016. The bill also increases the amount of employer-provided dependent care assistance which may be excluded from the gross income of an employee and requires the increased exclusion amount to be adjusted for inflation after 2017.

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Timeline

1. 14 July 2016

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 14 July 2016

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 14 July 2016 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 14 July 2016

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 14 July 2016

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 14 July 2016

  Open at official source

Sponsors

• Angus King · I · Sponsor
• Sen. Burr, Richard [R-NC] · R · Sponsor
• · ssfi00 · Standing

Related records

• related to → Child and Dependent Care FSA Enhancement Act
• related to → Child and Dependent Care FSA Enhancement Act
• related to → ACE Act
• related to → Helping Working Families Afford Child Care Act
• related to → Helping Working Families Afford Child Care Act
• related to → Child and Dependent Care Tax Credit Enhancement Act of 2015
• related to → PACE Act