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OCR Page 1 of 8138BF67DC.FIN
Page 76 of 155
CHILD CARE
The Clinton-Gore Administration's FY2001 budget includes a
comprehensive child
care initiative to address the struggles our nation's working parents
face in
finding child care they can afford, trust and rely on. Through
unprecedented tax
relief and subsidy support, the President's balanced budget includes a
package of
proposals to help working families pay for child care, improve the
safety and
quality of care, expand after-school programs and promote early
learning.
The number of children with parents who work outside of the home is
higher than
ever before. In 1996, three out of four mothers with young children
worked
outside of the home, compared to one in four in 1965. During the
Clinton-Gore
Administration, funding for child care has more than doubled. Still,
many
eligible children do not receive assistance.
Tax Relief for Over 8 Million Families with Child Care Expenses.
The Child and
Dependent Care Tax Credit (CDCTC) provides tax relief to those
who, in order to
work, pay for the care of a child under 13 or for a disabled dependent
or spouse.
The President's proposals, which cost $30 billion over 10 years,
broaden this
tax relief and will help over 8 million families pay their child care
expenses:
? Making the Credit Refundable for Nearly Two Million Working
Parents. Under
current law, a typical family of four with an income under $25,000 is
ineligible
for credits for child care expenses because it has no income tax
liability. Many
such families earn too little to claim the credit, but too much to get the
full
benefit of child care subsidies. To help these families, the President
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