WebDec 6, 2024 · It covers 20 to 35 percent of child care costs, depending on family income, to a maximum of $1,050 per child or $2,100 per family. The federal government incurred $4.6 billion in forgone revenue for this credit in fiscal 2016. Because it is nonrefundable, the child and dependent credit does not benefit families that do not owe income tax. WebThe federal and state governments provide further support for the health care sector through tax policy, including the exclusion of employers’ contributions to group health insurance from taxable income for employees, granting of tax exempt status to many health care institutions, and individual tax deductions for certain health care expenditures …
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What role should governments play in healthcare?
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