Affordable Child Care Act
3/19/2025, 3:08 AMSummary of Bill HR 1408
Bill 119 HR 1408, also known as the "Child Tax Credit Improvement Act of 2021," aims to make changes to the Internal Revenue Code of 1986 in order to increase the value of certain tax benefits for children and dependents. Specifically, this bill seeks to double the value of the Child Tax Credit and the Dependent Care Credit.The Child Tax Credit is a tax benefit that provides financial assistance to families with children. Currently, the credit is worth up to $2,000 per child. If this bill is passed, the value of the Child Tax Credit would be doubled to $4,000 per child.
Additionally, the Dependent Care Credit is a tax benefit that helps families cover the costs of child care expenses. This credit currently provides a maximum benefit of $3,000 for one dependent or $6,000 for two or more dependents. If Bill 119 HR 1408 is enacted, the value of the Dependent Care Credit would also be doubled. These changes would provide significant financial relief to families with children and dependents, helping to alleviate the financial burden of child care expenses and other costs associated with raising a family. Proponents of the bill argue that increasing these tax benefits would help to support working families and promote economic stability. Overall, Bill 119 HR 1408 aims to improve the financial well-being of families with children and dependents by doubling the value of certain tax benefits. If passed, this legislation could have a positive impact on the lives of millions of American families.
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Current Status of Bill HR 1408
Bill HR 1408 is currently in the status of Bill Introduced since February 18, 2025. Bill HR 1408 was introduced during Congress 119 and was introduced to the House on February 18, 2025. Bill HR 1408's most recent activity was Referred to the House Committee on Ways and Means. as of February 18, 2025Bipartisan Support of Bill HR 1408
Total Number of Sponsors
4Democrat Sponsors
4Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
8Democrat Cosponsors
4Republican Cosponsors
4Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 1408
Primary Policy Focus
Alternate Title(s) of Bill HR 1408
To amend the Internal Revenue Code of 1986 to double the value of certain tax benefits relating to children and dependents.To amend the Internal Revenue Code of 1986 to double the value of certain tax benefits relating to children and dependents.Comments
Most relevant
Sponsors and Cosponsors of HR 1408
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