Create a Child Care Tax Rebate for Low-Income Households
Current Status: WaitingAs of
As part of the Affordable Childcare and Eldercare Act:
"Provide low-income households an Expanded Earned Income Tax Credit – in the form a Childcare rebate – and a matching $500 contribution for their savings accounts."
"The Trump Plan would offer spending rebates for childcare expenses to certain low-income taxpayers through the Earned Income Tax Credit (EITC). The rebate would be equal to 7.65 percent of remaining eligible childcare expenses, subject to a cap of half of the payroll taxes paid by the taxpayer (based on the lower-earning parent in a two-earner household).
This rebate would be available to married joint filers earning $62,400 ($31,200 for single taxpayers) or less. Limitations on costs eligible for exclusion and the number of beneficiaries would be the same as for the basic exclusion. The ceiling would increase with inflation each year."
None of these policies seem to have been addressed, let alone included, in the Republican budget reconciliation/tax bill that was signed into law in late 2017.