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Daycare and Taxes>Government Tax Plan Will Be Good For Business
Michael 01:34 PM 12-16-2017
In order to get Senator Rubio's vote on the new tax bill, the language included tax breaks for families that use childcare. Increasing the refundability of the Child Tax Credit from 55% to 70%. If it passes, this expansion will be good for daycare/childcare businesses.

https://www.nytimes.com/2017/12/15/u...-tax-bill.html

Republicans’ $1.5 Trillion Tax Plan Appears on Track to Pass Next Week
"One of the biggest changes came on Friday, when lawmakers agreed to a demand by Mr. Rubio to expand the child tax credit by allowing families who owe no federal income taxes to still claim up to $1,400 of the $2,000 child tax credit, up from $1,100 in the original version. But that change was offset by limiting the bill’s benefits to some higher-income families, and by restricting it to children age 16 and below, down from 17 and below in the Senate bill. The net result was a credit that is more lucrative for lower-income earners but actually slightly less costly than the Senate bill."
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Tags:government, tax benefits
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