Bill 119 HR 413, also known as the Dependent Care Assistance Program Indexing Act, aims to make changes to the Internal Revenue Code of 1986. Specifically, this bill seeks to index dependent care assistance programs to inflation.
Dependent care assistance programs are designed to help individuals cover the costs of caring for dependents, such as children or elderly family members, while they are at work. By indexing these programs to inflation, the amount of assistance provided would increase over time to keep up with the rising cost of care.
This bill would ensure that individuals who rely on dependent care assistance programs are able to receive adequate support, regardless of changes in the cost of care. By adjusting the assistance amount based on inflation, this legislation aims to make these programs more effective and sustainable in the long term.
Overall, the Dependent Care Assistance Program Indexing Act is a non-partisan effort to improve the accessibility and affordability of dependent care assistance for individuals across the United States.