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Increased Tax Relief for Child and Senior Care

This bill aims to increase the amount of money employers can offer employees for child or senior care without it being counted as taxable income. This means families using such benefits could save more on taxes, and the amount will be adjusted annually for inflation.
Key points
Increases the tax-exempt amount for employer-provided dependent care assistance.
The exclusion amount will be automatically adjusted for inflation starting in 2022, preserving its real value.
These changes could lead to greater tax savings for families utilizing employer-sponsored care programs.
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Additional Information
Family Savings for Kids and Seniors Act
Print number: HR 833
Sponsor: Rep. Porter, Katie [D-CA-45]
Process start date: 2021-02-04