This bill makes it easier and cheaper for families to afford child care by expanding tax benefits in three main ways. First, it increases the tax credit that employers can claim when they provide child care services to their employees—doubling the maximum credit from $150,000 to $500,000, and allowing employers to count more of their child care spending toward the credit. Small businesses get an even bigger boost, with a $600,000 maximum credit. Second, the bill increases the amount of money employees can set aside tax-free through their employer's dependent care assistance program, raising the limit from $5,000 to $7,500 per year (or $3,750 for married couples filing separately). This means workers can use pre-tax dollars to pay for child care, which saves them money on their taxes. Third, the bill creates a new, more generous tax credit for families paying for child care expenses directly. This credit covers up to 50% of qualifying child care costs (starting at 50% and decreasing slightly as income rises, but never dropping below 35%), with a maximum of $5,000 in expenses for one child or $8,000 for two or more children. Importantly, this new credit is refundable, meaning families who owe little or no income tax can still receive the benefit as a refund. The bill also allows employers to jointly own or operate child care facilities with other businesses, making it easier for companies to pool resources and offer this benefit.