Congresswoman Shelley Moore Capito, R-W.Va., signed on as an original cosponsor to "The Working Parents Tax Relief Act," introduced in the House by Rep. James Sensenbrenner, R-WI.
Many working families depend on Dependent Care Flexible Savings Accounts (DCFSA) to cover the costs of caregiver services while at work. The DCFSA allows households to set aside up to $5,000 from their annual pre-tax salaries into designated accounts. Despite increases in inflation and the cost of care, the $5,000 ceiling has remained unchanged since 1986. This legislation seeks to increase the amount families are allowed to put aside to $7,500 and indexes it to inflation, thus providing continuing financial relief to parents coping with rising child and adult care costs.
"Caring for dependent children and ailing family members is a 24-7 job, yet the costs associated with caring for loved ones often require both parents to work in order to make ends meet. With the rising cost of care, families should be able to set aside additional pre-tax money to cover these expenses. I am proud to sign on as an original cosponsor to this bill that will help working parents throughout West Virginia," stated Capito.