,,ii  #aafth ,,congress  #ast ,session  
,s4 #gdi  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,march #ab1         
#bjai,mr4 ,king 7for himself1 ,mr4      
,burr1 ,ms4 ,collins1 ,ms4 ,sinema1 and 
,ms4 ,rosen7 introduced the following   
bill2 which was read twice and referred 
to the ,committee on ,finance  ,a ,,bill
  ,to amend the ,internal ,revenue ,code
 of #aihf to increase and make fully    
refundable the ,child and ,dependent    
,care ,tax ,credit1 to increase the     
maximum amount excludable from gross    
income for employer-provided dependent  
care assistance1 and for other purposes4
  #a4 ,short title ,this ,act may be    
cited as the ,promoting ,affordable     
,childcare for ,everyone ,act or the    
,,pace ,act4  #b4 ,refundability of     
,child and ,dependent ,care ,tax ,credit
  7a7 ,in general ,the ,internal        
,revenue ,code of #aihf is amended--    
7#a7 by redesignating section #ba as    
section #cf;,c1 and  7#b7 by moving     
section #cf;,c1 as so redesignated1 from

 subpart ,a of part ,,iv of subchapter  
,a of chapter #a to the location        
immediately before section #cg in       
subpart ,c of part ,,iv of subchapter ,a
 of chapter #a4  7b7 ,technical         
amendments  7#a7 ,paragraph 7#a7 of     
section #bc7;f7 of the ,internal        
,revenue ,code of #aihf is amended by   
striking #ba7;e7 and inserting          
#cf;,c7e74  7#b7 ,paragraph 7#f7 of     
section #ce7;g7 of such ,code is amended
 by striking #ba7;e7 and inserting      
#cf;,c7e74  7#c7 ,paragraph 7#a7 of     
section #cf;,c7a7 of such ,code 7as     
redesignated by subsection 7a77 is      
amended by striking this chapter and    
inserting this subtitle4  7#d7          
,subparagraph 7,c7 of section           
#abi7;a77#b7 of such ,code is amended by
 striking section #ba7;e7 and inserting 
section #cf;,c7e74  7#e7 ,paragraph 7#b7
 of section #abi7;b7 of such ,code is   
amended by striking section #ba7;d77#b7 
and inserting section #cf;,c7d77#b74    
7#f7 ,paragraph 7#a7 of section #abi7;e7

 of such ,code is amended by striking   
section #ba7;b77#b7 and inserting       
section #cf;,c7b77#b74  7#g7 ,subsection
 7e7 of section #bac of such ,code is   
amended by striking section #ba and     
inserting section #cf;,c4  7#h7         
,subparagraph 7,h7 of section           
#fbac7;g77#b7 of such ,code is amended  
by striking section #ba and inserting   
section #cf;,c4  7#i7 ,subparagraph 7,l7
 of section #fbac7;g77#b7 of such ,code 
is amended by striking section #ba1 #bd1
 or #cb1 and inserting section #bd1 #cb1
 or #cf;,c14  7#aj7 ,paragraph 7#b7 of  
section #acbd7;b7 of title #ca1 ,united 
,states ,code1 is amended by inserting  
#cf;,c1 after #cf;,b14  7#aa7 ,the table
 of sections for subpart ,c of part ,,iv
 of subchapter ,a of chapter #a of the  
,internal ,revenue ,code of #aihf is    
amended by inserting after the item     
relating to section #cf;,b the          
following3  ,sec4 #cf;,c4 ,expenses for 
household and dependent care services   
necessary for gainful employment4  4    

7#ab7 ,the table of sections for subpart
 ,a of such part ,,iv is amended by     
striking the item relating to section   
#ba4  7c7 ,effective date ,the          
amendments made by this section shall   
apply to taxable years beginning after  
,december #ca1 #bjai4  #c4 ,enhancement 
of the ,child and ,dependent ,care ,tax 
,credit  7a7 ,in general ,section #cf;,c
 of the ,internal ,revenue ,code of     
#aihf1 as redesignated by section #b of 
this ,act1 is amended--  7#a7 in        
paragraph 7#b7 of subsection 7a71 by    
striking #ce percent reduced 7but not   
below #bj percent7 and inserting #ej    
percent reduced 7but not below #ce      
percent71  7#b7 by redesignating        
subsection 7f7 as subsection 7g71 and   
7#c7 by inserting after subsection 7e7  
the following new subsection3  7f7      
,inflation adjustment  7#a7 ,in general 
,in the case of any taxable year        
beginning after #bjai1 each of the      
dollar amounts in subsections 7a77#b7   
and 7c7 shall be increased by an amount 

equal to--  7,a7 such dollar amount1    
multiplied by  7,b7 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
 #bjah for calendar year #bjaf in       
subparagraph 7,a77ii7 thereof4  7#b7    
,rounding ,if any increase determined   
under paragraph 7#a7 is not a multiple  
of #ej1 such increase shall be rounded  
to the nearest multiple of #ej4  4  7b7 
,effective date ,the amendments made by 
this section shall apply to taxable     
years beginning after ,december #ca1    
#bjai4  #d4 ,increase in exclusion for  
employer-provided dependent care        
assistance  7a7 ,in general             
,subparagraph 7,a7 of section           
#abi7;a77#b7 of the ,internal ,revenue  
,code of #aihf 7relating to dependent   
care assistance programs7 is amended by 
striking #e1jjj 7#b1ejj and inserting   
#g1ejj 7half such dollar amount4  7b7   
,inflation adjustment ,paragraph 7#b7 of

 section #abi7;a7 of such ,code is      
amended by redesignating subparagraph   
7,c7 as subparagraph 7,d7 and by        
inserting after subparagraph 7,b7 the   
following new subparagraph3  7,c7       
,inflation adjustment ,in the case of   
any taxable year beginning in a calendar
 year after #bjbj1 the #g1ejj amount in 
subparagraph 7,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 #bjai for calendar year   
#bjaf in subparagraph 7,a77ii7 thereof4 
,any increase determined under the      
preceding sentence shall be rounded to  
the nearest multiple of #ajj4  4  7c7   
,effective date ,the amendments made by 
this section shall apply to taxable     
years beginning after ,december #ca1    
#bjai4