Republicans Reintroduce Parent Tax Credit Bill

From Cybercast News Service:

(CNSNews.com) - Sen. Sam Brownback (R-Kan.) and Rep. Lee Terry (R-Neb.) on Thursday announced the reintroduction of legislation that would give tax credits to stay-at-home parents.

Terry, who sponsored similar legislation in 2005, submitted the bill in the U.S. House. Brownback is expected to submit it in the U.S. Senate in the coming days. Both men say the bill will help bolster family values by making child care tax credits equitable.

The existing Dependent Care Tax Credit (DCTC) provides tax credit for families in which both parents work outside the home and the children are cared for by non-parent daycare. The suggested changes would extend the same credit to families that choose to have one parent stay at home to raise the kids.

"As a tax code, this says 'Yes' to families," Brownback said. "We've got to reward the family structure in this country."

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