A bipartisan group of senators has proposed a brand new childcare measure that might broaden an help program that provides employers a tax credit score as much as $150,000 to assist their staff with youngsters pay for his or her care.
Sen. Michael Bennet (D-Colo.) has been pushing laws to assist working households with childcare prices for a number of years. He’s teamed up with Sen. Marsha Blackburn (R-Tenn.) this time round.
“Many families across Tennessee and America are struggling to find reliable and affordable child care, and we need to incentivize businesses to invest in child-care services for their employees,” Blackburn mentioned in a press release to The Hill.
“Our Child Care for American Families Act would help alleviate the financial burden of child-care costs by expanding and modernizing the Employer-Provided Child Care Tax Credit.”
Their proposal would prioritize incentives for companies in rural and lower-income areas if they provide office childcare services to their staff.
The proposed act would give as much as $1.2 million a 12 months in tax credit, with the quantity relying on employer dimension.
Republicans and Democrats have lengthy pushed for expanded tax breaks to chop prices for households.
“Everywhere I go in Colorado, parents tell me that they can’t find high-quality child care – and when they do, they simply can’t afford it. That’s why I’m working across the aisle to ease the burden on hardworking families,” Bennet informed The Hill in a press release.
“I’m grateful for Senator Blackburn’s partnership on this important legislation to expand access to reliable, affordable child care in Colorado, Tennessee, and in every corner of our country.”
