Higher Credit Percentage: The maximum credit rate increases from 35% to 50% of qualifying expenses (sliding down to a 20% floor depending on adjusted gross income).
- Maximum Credit Amounts:
- Up to $1,500 for one qualifying person (50% of up to $3,000 in expenses).
- Up to $3,000 for two or more qualifying persons (50% of up to $6,000 in expenses).
- Expense Limits: Remains capped at $3,000 for one dependent and $6,000 for two or more dependents.