[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 5412 Introduced in Senate (IS)]

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118th CONGRESS
  2d Session
                                S. 5412

   To amend the Internal Revenue Code of 1986 to increase the amount 
           excludable for dependent care assistance programs.


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                   IN THE SENATE OF THE UNITED STATES

                            December 3, 2024

  Mr. Kennedy introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

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                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to increase the amount 
           excludable for dependent care assistance programs.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``The Dependent Care Flexible Spending 
Account Expansion Act''.

SEC. 2. INCREASE IN AMOUNT EXCLUDABLE FOR DEPENDENT CARE ASSISTANCE 
              PROGRAMS.

    (a) In General.--Section 129(a)(2)(A) of the Internal Revenue Code 
of 1986 is amended by striking ``$5,000 ($2,500'' and inserting 
``$7,500 ($3,750''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2024.
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