CDCTC

Family Security Act 2.0 Child Allowance Would Help Families with Kids, with Drawbacks for Single Parents

The Family Security Act 2.0 (FSA 2.0) framework introduced this past June by Senators Mitt Romney (R-UT), Steve Daines (R-MT), and Richard Burr (R-NC) emerged...

December 8, 2022Nikhita Airi

Federal Budget and Economy: TaxVox

Pandemic Bill Would Cut Taxes by An Average of $3,000, With Most Relief Going to Low- And Middle-Income Households

Pandemic bill would Cct taxes by an average of $3,000, with most relief going to low- and middle-income households, according to a new TPC analysis...

March 8, 2021Howard Gleckman

Campaigns, Proposals, and Reforms: TaxVox

TPC Finds the Ways & Means Pandemic Relief Plan Mostly Helps Low- and Moderate-Income Households, But Higher Income Families Benefit as Well

The major tax provisions of the pandemic relief bill proposed by House Ways & Means Committee Democrats on January 8 would reduce 2021 federal taxes...

February 10, 2021Howard Gleckman

Individual Taxes: TaxVox

Families Can Use the Child Care Tax Credit to Pay for Informal Day Care, But the System Can Be Improved

The COVID-19 pandemic is changing the face of child care.

December 30, 2020Elaine Maag Nikhita Airi

Federal Budget and Economy: TaxVox

There Will Be No Showdown Over The Next COVID-19 Stimulus Bill. Pelosi Already Won.

Looking forward to the great partisan battle over the next COVID-19 relief bill? You may be disappointed. Nancy Pelosi already has won.

July 28, 2020Howard Gleckman

Individual Taxes: TaxVox

How The Tax Cuts And Jobs Act Reduced The Value Of The Child Care Credit

While the Tax Cuts and Jobs Act (TCJA) did not directly change the rules for the child and dependent care tax credit (CDCTC), other provisions...

November 27, 2018Elaine Maag

Individual Taxes: TaxVox

Tax Subsidies for Childcare Expenses Target Middle-Income Families, Missing Many Poor Parents

Congress created two tax benefits to help offset work-related childcare expenses-- the Child and Dependent Care Tax Credit (CDCTC) and the employer-provided childcare exclusion. But recently released data from the Treasury show that neither helps many of those parents who struggle the most to pay

September 11, 2015Elaine Maag

Campaigns, Proposals, and Reforms: TaxVox

How Obama’s Tax Plan Will Redistribute Income from the Very Rich To The Poor

President Obama’s latest tax package, which he’ll unveil in detail next week along with his new budget, would lower taxes for low-income households and significantly raise taxes for the highest income 1 percent—those making $663,000 or more, according to new Tax Policy Center estimates . Middle-

January 28, 2015Howard Gleckman

: TaxVox

“They Said That They Would Do It and Indeed They Did.”  

“ Oh, what a night …” but no shut down. Ted Cruz and a handful of allies succeeded in delaying the Senate vote on the 2015 budget, but they couldn’t stop it. The $1.1 trillion spending bill was approved late Saturday night by a vote of 56-40 . And three months into the fiscal year, most of the

December 15, 2014Renu Zaretsky

Individual Taxes: TaxVox

The “Helping Working Families Afford Child Care Act” Would Help, but Doesn’t Solve the Timing Mismatch

The Child and Dependent Care Tax Credit (CDCTC) does not work for low-income families. It fails on three counts – the credit is nonrefundable, covers only a portion of expenses, and comes long after expenses have been incurred. Senators Jeanne Shaheen (D-NH), Barbara Boxer (D-CA), Patty Murray (D-

July 28, 2014Elaine Maag