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A new Senate bill would let parents collect up to $8,000 in tax credits for day care, childcare, and nannies

By Julia Terruso

Rising day care costs could become more affordable under a new bill being introduced in the Senate on Wednesday.

The Child and Dependent Care Tax Credit Enhancement Act, written and sponsored by Sen. Bob Casey (D., Pa), would allow working parents to recoup up to half of childcare costs, whether from day care centers, after-school programs, summer camps, or less formal arrangements, such as nannies, totaling up to $16,000.

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