Senators want expanded employer-provided child care credit
A bipartisan group of senators has proposed a new childcare measure that would expand an assistance program that gives employers a tax credit up to $150,000 to help their employees with kids pay for their care.
Sen. Michael Bennet (D-Colo.) has been pushing legislation to help working families with childcare costs for several years. He’s teamed up with Sen. Marsha Blackburn (R-Tenn.) this time around.
“Many families across Tennessee and America are struggling to find reliable and affordable child care, and we need to incentivize businesses to invest in child-care services for their employees,” Blackburn said in a statement to The Hill.
“Our Child Care for American Families Act would help alleviate the financial burden of child-care costs by expanding and modernizing the Employer-Provided Child Care Tax Credit.”
Their proposal would prioritize incentives for businesses in rural and lower-income areas if they offer workplace childcare facilities to their employees.
The proposed act would give up to $1.2 million a year in tax credits, with the amount depending on employer size.
Republicans and Democrats have long pushed for expanded tax breaks to cut costs for families.
“Everywhere I go in Colorado, parents tell me that they can’t find high-quality child care – and when they do, they simply can’t afford it. That’s why I’m working across the aisle to ease the burden on hardworking families,” Bennet told The Hill in a statement.
“I’m grateful for Senator Blackburn’s partnership on this important legislation to expand access to reliable, affordable child care in Colorado, Tennessee, and in every corner of our country.”