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H.R. 1 establishes an employer tax credit for child care, increasing the credit rate from 25% to 40% (50% for small businesses) with a maximum of $500,000 ($600,000 for small businesses).
reported by one outlet so far · Reported fact · first recorded Aug 8, 6:30 AM
How each outlet reported it
Congressional Research ServiceOfficial record · Aug 8, 6:15 AM
The bill establishes an individual tax credit for employers providing child care, increasing from 25% to 40% (or 50% for small businesses) with a maximum of $500,000 ($600,000 for small businesses).
Details: Sec. 70401; 25% to 40%/50%