Kurt Bauer President & CEO at Wisconsin Manufacturers & Commerce | Official website
Kurt Bauer President & CEO at Wisconsin Manufacturers & Commerce | Official website
Evan Umpir, Director of Tax, Transportation, & Legal Affairs at Wisconsin Manufacturers & Commerce (WMC), recently testified in support of Senate Bill 291 (SB 291). The proposed legislation aims to broaden the Business Development Tax Credit to include additional expenses for employers who provide childcare benefits, extending beyond the capital costs that are currently recognized by state law.
Currently, twenty-five states offer some form of tax credit for employer-supported childcare benefits. This is an increase from last year when only twenty states had such policies. Several more states are considering similar measures.
According to WMC, SB 291 would expand eligible expenses under the existing tax credit program and could benefit small and medium-sized businesses that may not be able or willing to establish and operate their own childcare facilities. “This bill expands the Business Development Tax Credit to include other eligible expenses for employers providing childcare benefits beyond the capital costs currently included in statute,” Umpir said.
The proposed expansion is intended to give employers more flexibility in supporting their employees’ childcare needs without requiring them to build on-site facilities. “SB 291 expands the currently existing credit’s eligible beyond capital costs for establishing a childcare program for employees’ children, unlocking more options for small and medium-sized employers that do not want to build and operate a childcare facility,” Umpir stated.
WMC continues to advocate for policies that it says help create a business environment conducive to success across Wisconsin.