US SB749 | 2019-2020 | 116th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on March 12 2019 - 25% progression, died in committee
Action: 2019-03-12 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 12 2019 - 25% progression, died in committee
Action: 2019-03-12 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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 after 2019. 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 after 2020.
Title
PACE Act Promoting Affordable Childcare for Everyone Act
Sponsors
Sen. Angus King [I-ME] | Sen. Richard Burr [R-NC] | Sen. Susan Collins [R-ME] | Sen. Kyrsten Sinema [I-AZ] |
Sen. Jacky Rosen [D-NV] | Sen. Martha McSally [R-AZ] |
History
Date | Chamber | Action |
---|---|---|
2019-03-12 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB1696 (Same As) 2019-03-12 - Referred to the House Committee on Ways and Means.
HB1985 (Related) 2019-03-28 - Referred to the House Committee on Ways and Means.
HB1985 (Related) 2019-03-28 - Referred to the House Committee on Ways and Means.
Subjects
Child care and development
Employee benefits and pensions
Income tax credits
Income tax exclusion
Inflation and prices
Taxation
Employee benefits and pensions
Income tax credits
Income tax exclusion
Inflation and prices
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/749/all-info |
Text | https://www.congress.gov/116/bills/s749/BILLS-116s749is.pdf |