HR 3632
115th Congress
House
Taxation
Child care and development
Employee benefits and pensions
Income tax credits
Income tax exclusion
Inflation and prices
PACE Act
Introduced: July 28, 2017
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 28, 2017
Referred to the House Committee on Ways and Means.
Jul 28, 2017
Introduced in House
Plain-English 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 2017.
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 2018.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1