doubling the child care tax credit

January 25, 2010 at 9:01 pm Leave a comment

Washington (CNN) — Jan. 25, 2010 -President Obama proposed nearly doubling the child care tax credit for middle-class families Monday, the latest administration initiative meant to reassure Americans nervous about the slow pace of the economic recovery. The proposal is one of five new recommendations from the president’s Middle Class Task Force, which was established one year ago this week. It comes as an increasingly populist White House struggles to regain the political advantage among swing independent voters who have flocked to the GOP in recent elections in Massachusetts, New Jersey and Virginia. “The middle class has been under assault for a long time,” Obama said in remarks delivered near the White House. “None of these steps alone will solve all the challenges facing the middle class,” he said. “But hopefully, [they] will re-establish some of the security that’s slipped away in recent years.” Specifically, Obama will push to increase the Child and Dependent Care Tax Credit rate from 20 percent to 35 percent for families making under $85,000 a year. Families making from $85,000 to $115,000 also would see an increase in their tax credit, the statement said.  – JIM FREY


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article by Seth Godin regarding marketing Take the Outrageous Path to Outrageous Success

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