Bipartisan Bill Aims to Expand Child Care Tax Credits

Child care tax credits could expand if a bipartisan bill passes. On July 17, U.S. House members Salud Carbajal (D-CA) and Lori Chavez-DeRemer (R-OR) introduced the Child Care Investment Act. “Skyrocketing costs have left affordable child care out of reach for too many families,” stated Chavez-DeRemer in a press release. If passed, the bill would use a three-pronged approach to reduce child care costs and improve access to assistance for many families. Among other things, the bill would double the credit for employer-provided child care and raise the maximum credit from $150,000 to $500,000 (possibly higher for small businesses). Here’s the press release: