Wagner and Jeffries Introduce the Investing in Your Family’s Future Act
Congresswoman Ann Wagner (R-MO), Chair of the Suburban Caucus, and Congressman Hakeem Jeffries (D-NY), Chair of the House Democratic Caucus, introduced H.R. 5837, the Investing in Your Family’s Future Act. The legislation is endorsed by the Bipartisan Policy Center.
“Working parents depend on affordable and reliable child care. Raising a family is expensive, and many parents sacrifice retirement contributions to afford child care expenses, so I teamed up with my colleague Congressman Jeffries to allow these workers to still receive an employer match in their retirement savings accounts. A working parent’s child care payments can be treated as elective deferrals so they don’t miss out on critical tax incentives for retirement savings,” said Rep. Wagner. “This legislation makes it easier for employers to support working parents.”
“We need more legislative solutions that give businesses greater flexibility to support their employees and provide working parents with more resources to address growing child care expenses,” stated Linda Smith, the Bipartisan Policy Center’s Childhood Initiative Director. “We applaud Representatives Wagner and Jeffries for helping to lead this charge.”