A bipartisan group of senators has proposed a brand new childcare measure that may broaden an help program that offers employers a tax credit score as much as $150,000 to assist their workers with children 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 stated in an announcement 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 workers.
The proposed act would give as much as $1.2 million a 12 months in tax credit, with the quantity relying on employer measurement.
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 advised The Hill in an announcement.
“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.”
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