Ways and Means Committee Hearing Discusses Tax Breaks and Child Care Incentives

The U.S. House Ways and Means Committee held a hearing in Collierville, Tennessee, to gather input from Mid-South small businesses and workers regarding current tax breaks and necessary policy changes. During the hearing, David Kustoff participated, discussing how the COVID pandemic affected business needs for employee child care. Committee Chairman Jason Smith noted that recent legislation increased the child tax credit to $2,200 and created no tax on tips and overtime.

The discussion centered on tax relief for workers, including the no tax on tips and overtime, which affected millions of Americans. Kustoff proposed incentivizing small and medium-sized employers through tax benefits and credits to encourage them to provide child care benefits to their staff.