Missouri House Bill HB1335

Missouri 2023 Regular Session

• Introduced: 2/28/23
• Refer: 3/2/23

Caption

Authorizes the Supporting Use of Child Care for Economic Stability and Security (SUCCESS) Tax Credit

Impact

If enacted, HB1335 would introduce changes to state laws regarding tax credits related to child care services. It is designed to provide families with a financial incentive to utilize licensed child care facilities, potentially increasing demand for such services. The anticipated outcome includes not only alleviating some of the costs associated with child care but also supporting the child care industry, which plays a significant role in enabling parents to participate in the workforce. The establishment of this tax credit could result in enhanced child care availability and quality across the state.

Summary

House Bill 1335, titled the Supporting Use of Child Care for Economic Stability and Security (SUCCESS) Tax Credit, is aimed at enhancing accessibility to child care services for families. The bill seeks to establish a tax credit that would incentivize the use of child care, thereby supporting working parents and fostering economic stability. By reducing the financial burden of child care, the bill intends to empower families to remain in the workforce, which is crucial for both individual economic health and broader economic growth.

Sentiment

The overall sentiment surrounding HB1335 appears to be positive, especially among advocates for working families and child care providers. Supporters argue that the bill represents a critical step in addressing the challenges faced by families in affording quality child care. However, there are concerns expressed by some fiscal conservatives who question the financial implications of introducing a new tax credit, stressing the need for prudent budget management.

Contention

Notable points of contention include discussions around the effectiveness of tax credits as a mechanism for supporting child care access, as well as the long-term fiscal impact on the state budget. Critics argue that introducing tax credits could have unintended consequences, such as placing additional strain on state resources if not managed carefully. The debate reflects a broader conversation about how best to support families in need of child care services while ensuring that fiscal responsibility is maintained.