A bill to amend the Internal Revenue Code of 1986 to expand the employer-provided child care credit and the dependent care assistance exclusion.

Bill 118 s 4874, also known as the "Employer-Provided Child Care Credit and Dependent Care Assistance Exclusion 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 the employer-provided child care credit, which is a tax credit that employers can claim for providing child care services to their employees. This expansion would allow employers to claim a larger credit for the expenses they incur in providing child care services to their employees.

Additionally, the bill seeks to expand the dependent care assistance exclusion, which allows employees to exclude a certain amount of their income from taxes if it is used to pay for dependent care expenses. This expansion would increase the amount that employees can exclude from their income for dependent care expenses, providing them with additional tax benefits. Overall, the goal of Bill 118 s 4874 is to provide working parents with more financial support for child care expenses, making it easier for them to balance work and family responsibilities. The bill is currently under consideration in Congress and has the potential to have a significant impact on working families across the country.