child care tax credit
January 25th, 2010
Obama and Biden will reform the Child and Dependent Care Tax Credit by making it refundable and allowing low-income families to receive up to a 50 percent credit for their child care expenses." -President Obama proposed nearly doubling the child care tax credit for middle-class families Monday, the latest administration initiative meant to reassure Americans nervous about the slow pace of the economic recovery. One is the doubling of the child care tax credit. The administration wants to increase the child care tax credit for families earning less than $85000. Families earning up to $115000 will see an increase in their child care tax credit.