Child and Dependent Care Tax Credit Enhancement Act of 2024

Hozzl · 2024-03-08T04:45:53Z

Explore the details of House Bill 7252 Child and Dependent Care Tax Credit Enhancement Act of 2024 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

3/8/2024, 4:45 AM

Congressional Summary of HR 7252

Child and Dependent Care Tax Credit Enhancement Act of 2024

This bill modifies the tax credit for employment-related expenses incurred for the care of a taxpayer's dependent to (1) increase to $400,000, the adjusted gross income threshold level above which the credit is incrementally reduced; (2) increase the dollar limits on the allowable amount of the credit; (3) specify rules for married couples filing separate returns; (4) allow an inflation adjustment to the adjusted gross income threshold and the maximum credit amounts, beginning after 2024; and (5) make the credit refundable for taxpayers who have a principal residence for more than half of the taxable year.

Read the Full Bill

Formatted Text PDF Formatted XML

Current Status of Bill HR 7252

Bill HR 7252 is currently in the status of Bill Introduced since February 6, 2024. Bill HR 7252 was introduced during Congress 118 and was introduced to the House on February 6, 2024. Bill HR 7252's most recent activity was Referred to the House Committee on Ways and Means. as of February 6, 2024

Bipartisan Support of Bill HR 7252

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 7252

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 7252

Child and Dependent Care Tax Credit Enhancement Act of 2024

To amend the Internal Revenue Code of 1986 to enhance the Child and Dependent Care Tax Credit and make the credit fully refundable for certain taxpayers.