A bill to amend the Internal Revenue Code of 1986 to expand the employer-provided child care credit and the dependent care assistance exclusion.
3/7/2025, 6:43 PMSummary of Bill S 847
Bill 119 s 847, also known as the "Child Care Tax Credit Expansion Act," aims to make changes to the Internal Revenue Code of 1986 in order to increase the benefits available to working parents for child care expenses. The bill proposes to expand both the employer-provided child care credit and the dependent care assistance exclusion.The employer-provided child care credit currently allows employers to receive a tax credit for providing child care services to their employees. This bill seeks to increase the maximum credit amount that employers can claim, making it more financially feasible for businesses to offer child care benefits to their employees.
Additionally, the bill aims to expand the dependent care assistance exclusion, which allows employees to exclude a certain amount of employer-provided child care assistance from their taxable income. This would provide working parents with additional financial relief when it comes to covering the costs of child care. Overall, Bill 119 s 847 is focused on providing support to working parents by increasing the tax benefits available for child care expenses. By expanding both the employer-provided child care credit and the dependent care assistance exclusion, the bill aims to make child care more affordable and accessible for American families.
Current Status of Bill S 847
Bill S 847 is currently in the status of Bill Introduced since March 4, 2025. Bill S 847 was introduced during Congress 119 and was introduced to the Senate on March 4, 2025. Bill S 847's most recent activity was Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S1499-1500) as of March 4, 2025Bipartisan Support of Bill S 847
Total Number of Sponsors
4Democrat Sponsors
0Republican Sponsors
4Unaffiliated Sponsors
0Total Number of Cosponsors
17Democrat Cosponsors
7Republican Cosponsors
8Unaffiliated Cosponsors
2Policy Area and Potential Impact of Bill S 847
Primary Policy Focus
Alternate Title(s) of Bill S 847
A bill to amend the Internal Revenue Code of 1986 to expand the employer-provided child care credit and the dependent care assistance exclusion.A bill to amend the Internal Revenue Code of 1986 to expand the employer-provided child care credit and the dependent care assistance exclusion.Comments
Most relevant
Sponsors and Cosponsors of S 847
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