So for most employers the law increased the credit from 25% to 40% of qualified child care credit expenditures and raised the annual cap from $150,000 to $500,000. Eligible small businesses can now claim a 50% credit with an annual cap of $600,000. Employers can now partner with with outside organizations or other businesses to provide child care. That's so important because when child care is reliable, parents can stay in the workforce and employers can retain valued employees. (04:14–04:25)
CLAIM
Asserts that small businesses can claim a 50% childcare credit with a $600,000 cap.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
