To amend the Internal Revenue Code of 1986 to provide a credit for increasing wages paid to child care providers.

HR.8023 would create a new tax credit called the "child care supply credit" for employers who increase wages paid to qualified child care workers. The credit equals 5% of the increase in qualified child care wages from one year to the next, or 7% if the child care facility is located in a rural area, but only if the employer’s average hourly wage for child care workers rises year-over-year. Employers may elect not to claim the credit, and it would be treated as part of the general business credit, with rules preventing double benefits and applying to taxable years after enactment.

No official summary is available here. This one was written by AI from the bill’s text.