H. R. 1720
IN THE HOUSE OF REPRESENTATIVES
March 26, 2015
Ms. Sinema (for herself, Mrs. Ellmers of North Carolina, Mrs. Brooks of Indiana, Mr. Hanna, Mr. Gibson, Mr. Murphy of Florida, Mrs. Kirkpatrick, and Mrs. Bustos) introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to increase the exclusion for employer-provided dependent care assistance.
This Act may be cited as the
Child and Dependent Care FSA Enhancement Act.
Increase in exclusion for employer-provided dependent care assistance
Section 129(a)(2)(A) of the Internal Revenue Code of 1986 is amended by striking
$5,000 ($2,500 and inserting
$7,500 (half such dollar amount.
Section 129(a)(2) of such Code is amended by redesignating subparagraph (C) as subparagraph (D) and by inserting after subparagraph (B) the following new subparagraph:
In the case of any taxable year beginning in a calendar year after 2016, the $7,500 amount in subparagraph (A) shall be increased by an amount equal to—
such dollar amount, multiplied by
the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting
calendar year 2015 for
calendar year 1992 in subparagraph (B) thereof.
The amendment made by this section shall apply to taxable years beginning after December 31, 2015.