A bill to amend the Internal Revenue Code of 1954 to increase the percentage of household and dependent care services for which a credit against tax is allowable.

Amends the Internal Revenue Code to increase the amount of household and dependent care services for which an income tax credit is allowable. Increases such amount from 30 percent of such expenses reduced by one percent for each $2,000 of adjusted gross income in excess of $10,000 to 40 percent of such expenses reduced by two-thirds of one percent for each $1,000 of adjusted gross income in excess of $10,000.