STATEMENT: FFYF’s Sarah Rittling on the House Ways and Means Budget Reconciliation Plans

On Monday afternoon, the House Ways and Means Committee released the full text of their bill to reauthorize the Tax Cuts and Jobs Act of 2017 ahead of Tuesday’s markup. The following is a statement from Sarah Rittling, Executive Director of First Five Years Fund:

“While we applaud the Committee for improving 45F (the employer-provided child care credit), there remains a significant need to strengthen the tax credit that specifically and directly helps working families offset the cost of child care, the Child and Dependent Care Tax Credit (CDCTC). 

“Employers of all sizes have been eager to be a partner in addressing child care challenges and the expansion of the  Employer-Provided Child Care Credit (45F) speaks to this interest. However, 45F would be most effective when paired with the CDCTC, the only tax credit that directly helps parents offset the cost of child care, which is why most legislative proposals marry the two. Without meaningful improvements to the CDCTC, this bill misses a critical opportunity to deliver real relief to families for whom child care remains one of the most burdensome monthly expenses.”

“We are looking forward to continuing to work with our champions in the House and the Senate to make this bill even better by including provisions from the bipartisan Child Care Availability and Affordability Act championed by Senators Katie Britt and Tim Kaine in a final package.”