Proposal:Child Care Investment Act of 2023

This proposal is archived and closed to further debate. It was introduced in the 118th Congress, which has concluded, and the bill was not enacted into law.

Bill	HR 4571
Type of Legislation	House Bill
Congress	118
Status	Archived — 118th Congress concluded
Source	View original on Congress.gov

Geographic Scope

National

Description

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.

Bill Title

Child Care Investment Act of 2023

Linked Goals

• Goal:Promote General Welfare

Steps

• 2023-07-12: Referred to the House Committee on Ways and Means.
• 2023-07-12: Introduced in House
• 2023-07-12: Introduced in House

Projected Outcome

A more informed proposal or public response aligned with the Promote General Welfare goal.