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Increased Tax Breaks for Child and Senior Care Assistance

This bill aims to increase the amount of money employers can offer employees for child or senior care assistance that is exempt from taxes. This means families using such programs could save more money as a smaller portion of their income would be taxed. These changes will take effect from 2024 and will be adjusted for inflation.
Key points
Increases the tax-exempt amount for employer-provided dependent care assistance.
The amount will be adjusted annually for inflation to maintain its real value.
Changes apply to tax years beginning after December 31, 2023, leading to more savings for families.
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Expired
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Additional Information
Print number: 118_HR_5036
Sponsor: Rep. Porter, Katie [D-CA-47]
Process start date: 2023-07-27
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Family Savings for Kids and Seniors Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5036.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-07-27.

What are the main provisions?

Key points include:

  • Increases the tax-exempt amount for employer-provided dependent care assistance.
  • The amount will be adjusted annually for inflation to maintain its real value.
  • Changes apply to tax years beginning after December 31, 2023, leading to more savings for families.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Porter, Katie [D-CA-47].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes Family