Individual income and corporate franchise taxes; subtraction for employer-provided dependent care assistance allowed, and tax credit for employer-provided child care expenses established.
To Create The Affordable Childcare Act Of 2025; To Create An Income Tax Credit For Employers Who Assist Employees With Childcare Costs; And To Replace The Existing Income Tax Credit For Employer-operated Childcare Facilities.
Providing for income tax credits for payment of employee's child care related expenses and certain employer contributions to expand community child care availability.
Authorizes the "Child Care Contribution Tax Credit Act", the "Employer-Provided Child Care Assistance Tax Credit Act", and the "Child Care Providers Tax Credit", relating to tax credits for child care
Authorizes the "Child Care Contribution Tax Credit Act", the "Employer-Provided Child Care Assistance Tax Credit Act", and the "Child Care Providers Tax Credit", relating to tax credits for child care