HR 7360
118th Congress
House
Taxation
PACE Act
Introduced: February 14, 2024
Introduced by:
Tenney, Claudia
Republican
· New York
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 14, 2024
Referred to the House Committee on Ways and Means.
Feb 14, 2024
Introduced in House
Plain-English summary
Promoting Affordable Childcare for Everyone Act or the PACE Act
This bill modifies 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.
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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1