I
114th CONGRESS
1st Session
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
A BILL
To amend the Internal Revenue Code of 1986 to increase the exclusion for employer-provided dependent care assistance.
Short title
This Act may be cited as the Child and Dependent Care FSA Enhancement Act
.
Increase in exclusion for employer-provided dependent care assistance
In general
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
.
Inflation adjustment
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:
Inflation adjustment
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.
.
Effective date
The amendment made by this section shall apply to taxable years beginning after December 31, 2015.
