District Four Representative Randy Feenstra helped introduce the newest legislation regarding the high prices of childcare. The Combating High Inflation Limiting Daycare (CHILD) Act is to help assist families paying for childcare by doubling the annual contribution limit for tax-advantaged Dependent Care Flexible Savings Accounts (DCFSAs) and allowing that limit to be adjusted to meet the rise of inflation. Feenstra says that while on his 36 County Tour, he heard from parents, daycare centers, and childcare providers that the cost of sending children to daycare is out of control, and we need a real solution to make life more affordable for our families. Under this legislation, parents are allowed to save tax-free money from their paychecks to be utilized to pay for childcare. According to Feenstra, increasing the limit for Dependent Care FSA from $5,000 to $10,000 for joint tax filers and $2,500 to $5,000 for independent filers would allow parents to decide how to spend their hard-earned money. This new legislation will also allow for annual adjustments to be made to meet inflation demands. Since 1986, Dependent FSAs maximum contributions remained the same, which doesn’t match up with the present living prices. The entire legislative text can be found below.
Rep. Randy Feenstra Supports Newest Legislation Regarding High Prices Of Childcare
