U.S. Rep. Marcus Molinaro, District 19 | Official U.S. House headshot
U.S. Rep. Marcus Molinaro, District 19 | Official U.S. House headshot
U.S. Rep. Marc Molinaro (R-NY-19) introduced the Affordable Childcare Act, a bipartisan bill aimed at doubling three tax credits to help working families access quality and affordable childcare. The bill was co-introduced by U.S. Rep. Sharice Davids (D-KS-03).
The proposed legislation includes the following provisions:
1. **Doubling the Child and Dependent Care Credit**: Currently, the maximum child and dependent care credit is $3,000 for one dependent or $6,000 for two or more dependents. The new bill seeks to double these amounts to $6,000 and $12,000 respectively.
2. **Doubling the Employer-Provided Childcare Credit**: This credit offers employers up to $150,000 per year to offset 25% of qualified childcare facility expenditures and 10% of qualified childcare resource and referral expenditures. The bill proposes increasing this cap to $300,000.
3. **Doubling Contributions to Dependent Care Flexible Spending Accounts**: Presently, employees can contribute up to $5,000 in pre-tax earnings toward qualifying caregiving expenses through a dependent care flexible spending account. The new legislation aims to raise this limit to $10,000.
Rep. Molinaro stated, “Growing up, my family struggled to make ends meet. So I understand the difficult choices working families have to make to access quality child care when costs keep rising. That’s why I introduced this bipartisan bill to put more money in the pockets of working families and help them afford the child care services they deserve.”
Rep. Davids added, “Childcare is crucial for setting children up for success, but the high costs force many families to go without it, leading parents to work fewer days or incur unnecessary debt. Growing up with a single mom and limited resources, I understand how much of a difference extra budget flexibility can make. I’m proud to join Representative Molinaro in introducing this bipartisan bill to ensure hardworking families in Kansas and across the country can more easily afford childcare.”
The Early Care & Education Consortium (ECEC) and the First Five Years Fund have endorsed this bill.
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