Business tax credit for childcare?
This week the New Hampshire House of Representatives will vote on whether businesses should get a tax credit for donations to childcare.
The bill, HB 1681, would apply to donations for construction or renovation of child day care agencies, through the Community Development Finance Authority.
Bill supporters point out that there is shortage of workers in many fields, and businesses might have better luck finding qualified workers if childcare was more widely available. The tax credit would benefit both businesses and childcare agencies without any major impact on the state budget. Donations would be capped at $2 million.
Bill opponents are concerned about the budget impact, however. They note that business taxes are already scheduled to decrease over the next few years. They argue that if the state wants to fund programs through business tax revenue or credits, the legislature should consider those programs as part of the complete state budgeting process.
The New Hampshire Legislature will draft the next state budget in 2019.
Do you support a business tax credit for donations to childcare development? Share your opinion in the comments below.