S 208 115th Congress Senate Taxation Child care and development Employee benefits and pensions Income tax credits Income tax exclusion Inflation and prices

PACE Act

Introduced: January 24, 2017 Introduced by: King, Angus S., Jr. Independent · Maine See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jan 24, 2017

Read twice and referred to the Committee on Finance.

Jan 24, 2017

Introduced in Senate

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Plain-English summary Congressional Research Service

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 January 24, 2017

Read twice and referred to the Committee on Finance.

Related & companion bills 3