S 3657
118th Congress
Senate
Taxation
Child and Dependent Care Tax Credit Enhancement Act of 2024
Introduced: January 24, 2024
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, 2024
Read twice and referred to the Committee on Finance.
Jan 24, 2024
Introduced in Senate
Plain-English summary
Child and Dependent Care Tax Credit Enhancement Act of 2024
This bill modifies the tax credit for employment-related expenses incurred for the care of a taxpayer's dependent to (1) increase to $400,000, the adjusted gross income threshold level above which the credit is incrementally reduced; (2) increase the dollar limits on the allowable amount of the credit; (3) specify rules for married couples filing separate returns; (4) allow an inflation adjustment to the adjusted gross income threshold and the maximum credit amounts, beginning after 2024; and (5) make the credit refundable for taxpayers who have a principal residence for more than half of the taxable year.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1