Affordable Child Care Act

Section 21(c) of the Internal Revenue Code of 1986 is amended—

(1) in paragraph (1), by striking $3,000 and inserting $6,000, and

(2) in paragraph (2), by striking $6,000 and inserting $12,000.

Section 21 of such Code is amended by striking subsection (g) and redesignating subsection (h) as subsection (g).

The amendments made by this section shall apply to taxable years beginning after December 31, 2023.

Section 129(a)(2) of the Internal Revenue Code of 1986 is amended—

(1) in subparagraph (A), by striking $5,000 ($2,500 and inserting $10,000 (half such dollar amount), and

(2) by striking subparagraph (D).

The amendments made by this section shall apply to taxable years beginning after December 31, 2023.

Section 45F(b) of the Internal Revenue Code of 1986 is amended by striking $150,000 and inserting $300,000.

The amendments made by this section shall apply to taxable years beginning after December 31, 2023.