,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #ebeh  ,,in ,,the ,,house ,,of  
,,representatives  ,july #cj1 #bjad     
,mrs4 ,capito 7for herself1 ,mrs4       
,mc,morris ,rodgers1 ,mrs4 ,wagner1     
,mrs4 ,ellmers1 ,mrs4 ,bachmann1 ,mr4   
,valadao1 ,mr4 ,rodney ,davis of        
,illinois1 ,ms4 ,granger1 ,mrs4 ,lummis1
 and ,mr4 ,fitzpatrick7 introduced the  
following bill2 which was referred to   
the ,committee on ,ways and ,means  ,a  
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to index the dependent  
care credit and income exclusion for    
inflation4  #a4 ,short title ,this ,act 
may be cited as the ,families ,first    
,act4  #b4 ,inflation adjustments of    
credit and exclusion for dependent care 
expenses  7a7 ,credit  7#a7 ,in general 
,section #ba7;e7 of the ,internal       
,revenue ,code of #aihf is amended by   
adding at the end the following new     
paragraph3  7#aa7 ,inflation adjustment 
7,a7 ,in general ,in the case of any    
taxable year beginning in a calendar    

year after #bjad1 the dollar amounts in 
subsections 7a77#b7 and 7c77#b7 shall   
each be increased by an amount equal    
to--  7i7 such dollar amount1 multiplied
 by  7ii7 the cost-of-living adjustment 
determined under section #a7;f77#c7 for 
the calendar year in which the taxable  
year begins1 determined by substituting 
calendar year #bjac for calendar year   
#aiib in subparagraph 7,b7 thereof4     
7,b7 ,rounding ,any increase determined 
under subparagraph 7,a7 shall be rounded
 to the nearest multiple of #aj4  4     
7#b7 ,dollar limit on amount creditable 
,section #ba7;c77#a7 of the ,internal   
,revenue ,code of #aihf is amended by   
striking #c1jjj and inserting #ej       
percent of the amount in effect under   
paragraph 7#b7 for the taxable year4    
7b7 ,exclusion  7#a7 ,in general        
,section #abi7;e7 of the ,internal      
,revenue ,code of #aihf is amended by   
adding at the end the following new     
paragraph3  7#aj7 ,inflation adjustment 
7,a7 ,in general ,in the case of any    

taxable year beginning in a calendar    
year after #bjad1 the dollar amount in  
subsection 7a77#b77;,a7 shall be        
increased by an amount equal to--  7i7  
such dollar amount1 multiplied by  7ii7 
the cost-of-living adjustment determined
 under section #a7;f77#c7 for the       
calendar year in which the taxable year 
begins1 determined by substituting      
calendar year #bjac for calendar year   
#aiib in subparagraph 7,b7 thereof4     
7,b7 ,rounding ,any increase determined 
under subparagraph 7,a7 shall be rounded
 to the nearest multiple of #aj4  4     
7#b7 ,limitation on exclusion ,section  
#abi7;a77#b77;,a7 of the ,internal      
,revenue ,code of #aihf is amended by   
striking #b1ejj and inserting #ej       
percent of such amount4  7c7 ,effective 
date ,the amendments made by this       
section shall apply to taxable years    
beginning after ,december #ca1 #bjad4