H. R. 775
IN THE HOUSE OF REPRESENTATIVES
January 31, 2017
Mr. Moolenaar introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to inflation adjust the $5,000 limitation with respect to dependent care assistance programs and flexible spending arrangements.
Inflation adjustment for dependent care assistance programs and flexible spending arrangements
Section 129(a)(2) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:
In the case of any taxable year beginning after December 31, 2017, the dollar amounts in subparagraph (A) shall be increased by an amount equal to—
such amount, multiplied by
the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which such taxable year begins by substituting
calendar year 2014 for
calendar year 1992 in subparagraph (B) thereof.
The amendment made by this section shall apply to taxable years beginning after December 31, 2017.