❌ HB167
Authorize tax credits for certain child care expenditures
Summary
The bill authorizes nonrefundable tax credits for certain employer-provided child care expenditures, allowing employers to claim credits against various state taxes based on eligible child care expenses incurred in the previous calendar year. Employers must apply for a tax credit certificate to claim these credits, which can be carried forward for up to five years if the credit exceeds their tax liability. The application process requires submission by January 15 of the following year.
Rationale
The bill introduces government-mandated tax credits, which conflicts with Libertarian principles of minimal government intervention and taxation. It also promotes state involvement in private employment matters, opposing the Libertarian stance on free markets and voluntary agreements.
Risks and Concerns
- Increases government control over private sector employment decisions.
- Encourages dependency on government tax credits rather than market solutions.
- Potential for cronyism and favoritism in tax credit distribution.