Davis and Wagner Introduce Legislation to Modernize Child and Dependent Care
U.S. Reps. Rodney Davis (R-Ill.) and Ann Wagner (R-Mo.) released the following statement after they introduced the Child and Dependent Care Modernization Act of 2019, legislation that would help alleviate some of the financial burdens that come with rising costs of child and dependent care.
“Paying for child care continues to be a major concern of many working parents,” said Davis. “Our bill helps families save more to cover these costs by increasing the maximum amount they can contribute to their Dependent Care Flexible Spending Account and allowing them to roll over unused funds. By modernizing these accounts, we hope to make it easier for more working parents to cover the cost of child care.”
“Child care and dependent care costs continue to rise and have become a significant burden for families across America. One way we can help alleviate that stress is to increase the maximum amount a family can contribute to a Dependent Care Family Savings Account (DCFSA). This will empower families to have more control over their hard-earned dollars and plan ahead as they make lifechanging decisions about how best to care for their children and loved ones,” said Wagner. “This bill also eliminates the ‘use it or lose it’ provision that often penalizes families and would allow unused DCFSA funds to rollover to the next year for more flexibility. We must keep fighting for our families in the face of rising costs that can strain hardworking Missourians who are supporting those who depend on them.”
For more details on the Child and Dependent Care Modernization Act of 2019, read the one-pager here.