Parental Choices in Child Care Act of 1989

Summary

Parental Choices in Child Care Act of 1989 - Title I: Tax Credit for Families with Young Children - Amends the Internal Revenue Code to allow an individual a refundable income tax credit for each dependent under age six who resides in the household. Sets a maximum credit of $1,000 per qualified dependent child. Reduces the credit for taxpayers whose adjusted gross income exceeds $20,000. Directs the Secretary of the Treasury to prescribe tables to be used to determine the credit amount. Authorizes advance credit payments by employers to employees who provide certification of eligibility. Requires taxpayers to file information returns to reflect such payments. Revises the dependent care credit to: (1) disqualify children six years old or older from credit determinations; and (2) disallow the credit to taxpayers whose adjusted gross income exceeds $25,000. Title II: Incentives for Employer Provided Child Care - Allows employers a ten percent tax credit for expenses paid or incurred in providing for or contributing to dependent care assistance programs.

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2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 8 February 1989

  Open at official source

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