Biden Proposes New Family, Employer Child Care Tax Credits

Law360 (July 21, 2020, 7:04 PM EDT) -- Former Vice President Joe Biden proposed a plan Tuesday that would create tax credits for families to help pay their child care expenses and for employers to provide on-site child care services.

Biden, the presumptive Democratic presidential candidate, said during a speech in New Castle, Delaware, introducing the plan that low- to middle-income families' child care expenses would be capped so that they would spend no more than 7% of their annual income.

The refundable tax credit would reimburse up to half of a family's child care costs and would be fully available to households earning less than $125,000 annually. Families...

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