Child Care Tax Credit Reform Act of 1988

Child Care Tax Credit Reform Act of 1988 - Amends the Internal Revenue Code to increase from $2,400 to $3,600 (from $4,800 to $5,400 in the case of two or more qualifying dependents) the amount of employment-related expenses subject to the dependent care income tax credit. Denies the credit to taxpayers having adjusted gross income of $50,000 or more.

Removes the 20 percent minimum credit percentage, thus subjecting taxpayers having income above $30,000 to an incremental decrease in the applicable credit percentage.