The version of tax reform legislation passed by the House Ways and Means Committee Nov. 9 retains popular dependent care flexible spending accounts. An initial draft of the sweeping tax reform bill had proposed cutting the benefit, which allows employees to set aside up to $5,000 per year in pretax dollars to cover expenses related to child care and adult day care for elderly relatives.
The House was expected to approve the tax bill by Nov. 17. Meanwhile, the Senate is debating its own version of tax reform.
Congressional leaders hope to reconcile the two measures and pass a final bill before the end of the year.