Wagner Introduces Legislation to Help Families with Cost of Child & Dependent Care
Washington, D.C. – This week, Congresswoman Ann Wagner (MO-02) introduced the Child and Dependent Care Modernization Act of 2018 to help alleviate some of the financial burdens that come with child and dependent care. Congresswoman Wagner previously spoke on the House Floor about the need for this legislation.
“Paying for childcare is just plain hard for the working families I’ve spoken with across Missouri’s 2nd Congressional District,” said Congresswoman Wagner. “As a mother of three and a new grandmother, I know it’s challenging to raise young children, and we must find ways to help make the lives of working families a little bit easier. I also know that too many families across the state struggle to care for aging parents, and giving them new financial flexibility to pay for that care is important. The Child and Dependent Care Modernization Act of 2018 will do both by modernizing the maximum amount a family can contribute to Dependent Care Flexible Spending Accounts to track with the real costs of dependent care today.”
BILL SUMMARY FOR THE CHILD AND DEPENDENT CARE MODERNIZATION ACT OF 2018
The Child and Dependent Care Modernization Act of 2018 will increase the maximum amount a family can contribute to a Dependent Care Flexible Spending Account (DCFSA) and allow unused funds to roll over into the next year. It will also index the maximum contribution limit to inflation so that the value of a DCFSA will increase as child and dependent care costs increase. This bill will give the more than 40 percent of workers with access to a DCFSA more control over their hard-earned money and allow them to plan ahead when it comes to child and dependent care.
DCFSA eligible expenses:
- Childcare while at work
- Before and after school programs for children
- Nursery school
- Summer day camp for children
- Transportation to and from eligible care
- Adult day care center
- Custodial elder care
- Elder or dependent care while at work
- Senior day care