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
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-
“ 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
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-
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...