Bill > HR1408

This bill aims to double the value of several tax benefits related to child and dependent care. Specifically, it increases the Child and Dependent Care Credit by doubling the maximum credit amount from $3,000 to $6,000 for one qualifying individual and from $6,000 to $12,000 for two or more qualifying individuals. The bill also doubles the limit on Dependent Care Assistance Programs from $5,000 to $10,000 for tax purposes, and increases the employer-provided childcare credit from $150,000 to $300,000. These changes would apply to taxable years beginning after December 31, 2024, which means taxpayers would first see these enhanced benefits when filing their 2025 tax returns. The bill is designed to provide significant financial relief to families and employers by increasing tax credits and assistance programs related to child and dependent care, potentially making childcare more affordable for working parents.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/1408/all-info