More Child Care Credit

President Obama is now proposing almost doubling the federal child care tax credit, for families that earn less than $85,000 a year. He would also increase it for families making less than $115,000. This is a move that has been pushed previously by Barbra Boxer and Kristin Gillibrand in the Senate.

The Obama administration is hoping to do everything it can to make life easier for middle class families, as it tries to shift toward making the economy its first priority after a year focused on health care, which was a vitally important issue but not perceived as having the same urgency, by the public. Along with his package of tax credits Obama is also calling for a spending freeze for various agencies starting in 2011, that he says will over ten years save hundreds of billions of dollars.

More Child Care Credit
sfgate

President Obama today called for a more generous child-care tax credit for middle class American families, giving new hope to a proposal being pushed by Sens. Barbara Boxer of California and Kirsten Gillibrand of New York. Obama today proposed nearly doubling the federal child care tax credit for families earning less than $85,000 and increasing it for families making less than $115,000.

More Child Care Credit