Expands employer-provided child care credit and dependent care assistance exclusion under the Internal Revenue Code.

The Child Care Availability and Affordability Act amends the Internal Revenue Code to increase the employer-provided child care credit and the dependent care assistance exclusion. It raises the credit amount for qualified child care expenditures from 25% to 50%. It also increases the maximum credit amount for dependent care assistance programs from $5,000 to $7,500. The bill further expands the definition of qualifying individuals for the credit and modifies the rules for jointly owned or operated childcare facilities.

Expands employer-provided child care credit and dependent care assistance exclusion under the Internal Revenue Code.

The Child Care Availability and Affordability Act amends the Internal Revenue Code to increase the employer-provided child care credit and the dependent care assistance exclusion. It raises the credit amount for qualified child care expenditures from 25% to 50%. It also increases the maximum credit amount for dependent care assistance programs from $5,000 to $7,500. The bill further expands the definition of qualifying individuals for the credit and modifies the rules for jointly owned or operated childcare facilities.