In an earlier Blog I commented that providing child care is not, or should not be, an “unskilled” job. A US Senate Bill takes some first steps in acknowledging and supporting the importance of education for those caring for children.
Senator Barbara Boxer introduced legislation, S.446, to support child care provision in two important ways: one is to improve tax support to offset costs parents pay for child care. The other introduces an innovative tax credit for child care providers who have a bachelor’s degree in early childhood education. It is a first step, but it clearly recognizes the importance of having our children cared for by skilled, educated professionals.
Senate Bill 446
Right Start Child Care and Education Act of 2015
Amends the Internal Revenue Code to: (1) increase the rates and maximum allowable amount of the tax credit for employer-provided child care facilities; (2) increase the eligibility threshold amount and rate of the household and dependent care tax credit and make such credit refundable; (3) allow a new $2,000 tax credit for child care providers who hold a bachelor’s degree in early childhood education, child care, or a related degree and who provide at least 1,200 hours of child care services in a taxable year; and (4) increase the tax exclusion for employer-provided dependent care assistance.
The bill was referred to the Senate Finance Committee in February 2015, but there has been no action since.