Section 1. Short title
This Act may be cited as the Affordable Child Care Act.
(a) In general
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.
(b) Conforming amendment
Section 21 of such Code is amended by striking subsection (g) and redesignating subsection (h) as subsection (g).
(c) Effective date
The amendments made by this section shall apply to taxable years beginning after December 31, 2024.
(a) In general
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).
(b) Effective date
The amendments made by this section shall apply to taxable years beginning after December 31, 2024.
(a) In general
Section 45F(b) of the Internal Revenue Code of 1986 is amended by striking $150,000 and inserting $300,000.
(b) Effective date
The amendments made by this section shall apply to taxable years beginning after December 31, 2024.