In order to support those who decided to build their families through the heroic path of adoption. We increased the Dependent Care Assistance exclusion up to $7,500 from $5,000. And We increased the Child and Dependent Care tax credit which will help millions of families offset the cost of child care by nearly $1,000 on average. No doubt that raising a family in today's world is a rewarding but challenging experience, but thanks to historic inflation that the Biden administration imposed on the American people, this already daunting journey became much harder. (07:43–07:54)
CLAIM
Asserts that the Child and Dependent Care tax credit was increased to help families offset child care costs by nearly $1,000 on average.
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.
