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The childcare tax credit provides a partial tax relief for dual income families with children who require care while their parents work. Families with one or more children in daycare are eligible for a tax credit as high as 30% of care costs. Most dual income couples can take a credit of $600 for one child or $1200 for two or more children. When one spouse does not work outside the home, the couple loses eligibility for the credit.
How much does the average family spend on childcare in the United States per year? In your personal assessment, how helpful would you say the childcare tax credit is for middle income families in our society?
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