Summary: S.470 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for S.470. Bill summaries are authored by CRS.

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Introduced in Senate (02/28/2017)

Child and Dependent Care Tax Credit Enhancement Act of 2017

This bill amends the Internal Revenue Code, with respect to the tax credit for employment-related expenses incurred for the care of a taxpayer's dependent, to: (1) increase to $120,000, the adjusted gross income threshold level above which such credit is incrementally reduced; (2) increase the dollar limit on the allowable amount of such credit; (3) allow an inflation adjustment to the adjusted gross income threshold and the maximum credit amounts, beginning after 2018; and (4) make such credit refundable.