Tax Policy Center

CDCTC

Individual Taxes: TaxVox
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
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
“ 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 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
Campaigns, Proposals, and Reforms: TaxVox
The revenue proposals included in President Obama’s 2014 budget would, as intended, significantly raise taxes on the highest-income American households. However, despite Obama’s long-standing pledge to protect individuals making below $200,000 (and couples making $250,000 or less) from any tax
April 22, 2013Howard Gleckman
Individual Taxes: TaxVox
Every year at tax time I am reminded of two tax benefits that subsidize my children’s child care – the employer-provided child care exclusion and the Child and Dependent Care Tax Credit (CDCTC). Families with sufficient expenses can benefit from both provisions. Congress could simplify these child
April 15, 2013Elaine Maag