Save Big on Child Care with These Tax Breaks!

Completely rewrite the following article in a fresh and original style. Ensure the new content conveys the same sentiment and message as the original. The rewritten article should:

Start with a compelling introduction that hooks the reader (do not label this section).
Maintain any lists and points as they are, using numbering and bullet points where necessary. Rewrite the explanations and discussions around these points to make them fresh and original. Ensure the lists are formatted correctly with proper numbering or bullet points.
Organize the content into clear, logical sections. Subheadings are not mandatory. Each section should have a subheading only if it enhances readability and comprehension.
End with a strong conclusion that summarizes the key points and provides a closing thought or call to action (do not label this section).
Ensure it is formatted properly with adequate line spacing

Make sure the article flows coherently, is engaging, and keeps the reader interested until the end. Reorganize and structure the content efficiently to enhance readability and comprehension. Use varied sentence structures and vocabulary to avoid monotony. Avoid directly copying any sentences or phrases from the original content. Here is the original content:

A bipartisan tax bill for child care. Senators Tim Kaine (D-VA) and Katie Britt (R-AL) have introduced the Child Care Availability and Affordability Act. The bill would increase the size of the Child and Dependent Care Tax Credit, make it refundable, and boost the Dependent Care Assistance Program. The bill would also increase and expand the Employer-Provided Child Care Tax Credit available to businesses.
Speaking of child care costs… TPC’s Margot Crandall-Hollick considers the tax bills of families with children and without. Families with children often pay less in taxes than their childless peers at the same income level. But some of those benefits, like the child tax credit (CTC), are unavailable to many families in need. Policymakers could expand the CTC or simplify child tax benefits so it’s easier for families to apply for and receive them.
Congress can maintain IRS rulemaking authority without Chevron. Reuven Avi-Yonah of the University of Michigan and TPC’s Steve Rosenthal examine the US Supreme Court’s Loper Bright decision, which overruled the Chevron doctrine. Courts are no longer required to defer to agencies for statute interpretations. But Reuven and Steve explain how Congress can maintain an agency’s power—like that of the IRS—to interpret statutes.
Some cannabis businesses are still hopeful for protective refund claims. TaxNotes reports (paywall) on legal advice shared with the industry. Business deductions for Schedule I and Schedule II drugs are not legal, but marijuana may soon be reclassified as a Schedule III drug, based on a proposed rule by the Drug Enforcement Agency. The prospect has prompted cannabis businesses to file amended returns claiming deductions for past tax years. Lawyers have suggested that businesses continue to file such claims, even though the IRS warns against it: “You never know what the law is going to bring.”

For the latest tax news, subscribe to the Tax Policy Center’s Daily Deduction. Sign up here to have it delivered to your inbox weekdays at 8:00 am (Mondays only when Congress is in recess). We welcome tips on new research or other news. Email Renu Zaretsky.