S.847

Child Care Availability and Affordability Act expands employer-provided child care credit and dependent care assistance exclusion.

The Child Care Availability and Affordability Act amends the Internal Revenue Code to expand the employer-provided child care credit and the dependent care assistance exclusion. It introduces a new section for household and dependent care services necessary for gainful employment, allowing a credit for employment-related expenses. The bill also increases the amount excludable for dependent care assistance programs and makes the household and dependent care credit refundable. The changes apply to taxable years beginning after the date of enactment.