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Bill would refund WA businesses for covering child care costs

  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. wa-businesses-for-covering-child-care-costs.html
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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
New legislation in Olympia aims to ease the burden of child-care costs for Washington families by allowing businesses to help their employees pay for it. Under House Bill 1564, businesses could reduce the amount they spend on business and occupation taxes by the amount they pay for child-care assistance to workers.
The article from MSN discusses a proposed bill in Washington state that aims to support businesses by offering tax incentives for covering child care costs for their employees. This initiative, led by Sen. Claire Wilson, would allow businesses to receive a Business and Occupation (B&O) tax credit for expenses related to providing child care, either directly or through subsidies. The bill seeks to address the dual challenges of workforce participation and child care affordability, potentially encouraging more businesses to offer child care benefits, thereby aiding in employee retention and attraction. The legislation is part of a broader effort to enhance economic stability and support families by reducing the financial burden of child care, which has been identified as a significant barrier to employment, particularly for women.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/economy/bill-would-refund-wa-businesses-for-covering-child-care-costs/ar-AA1y2KJQ ]


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