Leaders for a Better Louisiana is alerting businesses of an expanded tax credit that helps provide high-quality childcare for employees. Barry Erwin, the chief policy officer for Leaders for a Better Louisiana, says the new Workforce Child Care Tax Credit is available to businesses which provide top notch child care within their own facilities or help pay their employee’s child care costs.
“Particularly in a high quality setting, they will get enhanced tax credit to do that,” Erwin said.
Businesses can claim the credit on their tax returns beginning in 2027. Erwin says the new law doubles the value of the old credit and amounts to a huge change for this under-utilized tax incentive.
“This is a really a business tax credit that helps businesses support their employees and ultimately helps young kids have more access to high quality child care and we know that makes a difference in their lives,” Erwin said.
Erwin says this enhanced tax credit will allow more parents to stay in the workforce while giving employers new tools to attract and retain top talent.
“Gives employers a tool that they didn’t really have to the same degree to help with their own workforce needs, but also help with their employees and their families with child care, which is a very expensive proposition,” Erwin said.