Written for North Country Now on September 2, 2020
Congresswoman Elise Stefanik, R-Schuylerville, is cosponsoring the bipartisan COVID-19 Dependent Care Flexible Spending Arrangement Rollover Act, legislation that her office says “will prevent working families from losing funds for child care services due to the COVID-19 pandemic.”
Dependent care assistance plans (DCAPs) allow employees to set aside pre-tax income to cover the costs of child care, however any unspent funds are lost at the end of the plan year, Stefanik’s office said.
Since the pandemic has impacted access to child care facilities and more employees are working remotely, many workers may be at risk of losing these funds. This bill allows working families to roll over unspent DCAP funds from 2020 to 2021, Stefanik’s office said.
“The COVID-19 pandemic has presented new challenges for hardworking employees and their families alike, and I have continually been supportive of initiatives and funding to help them,” Stefanik said in a prepared statement. “I have heard firsthand from many working parents in my district who are concerned about the costs of childcare, particularly as the pandemic has disrupted access to many care options. This bipartisan legislation allows families the important ability to rollover the dependent care funds they rely on, ensuring their hard-earned dollars are available when they need them most. I am proud to cosponsor this and other efforts that support expanding childcare options for our North Country working parents. I look forward to advancing this legislation along with my colleagues.”
You can read the full article at https://www.northcountrynow.com