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Referenced Laws
Section 21(c)
Section 129(a)(2)
Section 45F(b)
Section 1
1. Short title This Act may be cited as the Affordable Child Care Act.
Section 2
2. Child and dependent care credit doubled Section 21(c) of the Internal Revenue Code of 1986 is amended— in paragraph (1), by striking $3,000 and inserting $6,000, and in paragraph (2), by striking $6,000 and inserting $12,000. Section 21 of such Code is amended by striking subsection (g) and redesignating subsection (h) as subsection (g). The amendments made by this section shall apply to taxable years beginning after December 31, 2024.
Section 3
3. Dependent care assistance program limit doubled Section 129(a)(2) of the Internal Revenue Code of 1986 is amended— in subparagraph (A), by striking $5,000 ($2,500 and inserting $10,000 (half such dollar amount), and by striking subparagraph (D). The amendments made by this section shall apply to taxable years beginning after December 31, 2024.
Section 4
4. Employer-provided childcare credit doubled Section 45F(b) of the Internal Revenue Code of 1986 is amended by striking $150,000 and inserting $300,000. The amendments made by this section shall apply to taxable years beginning after December 31, 2024.