A bill to amend the Internal Revenue Code of 1986 to make the dependent care credit refundable.
Read twice and referred to the Committee on Finance.
Congressional Research Service
Official summary
Version 00 · Introduced in Senate · Jan 26, 2004
Amends the Internal Revenue Code to repeal the nonrefundable income tax credit for employment-related dependent care expenses and replace it with a refundable 50 percent income tax credit, reduced (but not below 20 percent) as the taxpayer's adjusted gross income exceeds $15,000 (adjusted for inflation). Limits the dollar amount of such credit to $3,000 ($6,000 if two or more qualifying individuals). Includes within the scope of the new credit up to $1,200 ($2,400 if two or more qualifying individuals) of respite care expenses incurred for the taxpayer's spouse and dependents who are physically or mentally incapable of self-care.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jan 14, 2025. Consult Congress.gov for the current record.
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