Huge Benefits Seen in Child Care Tax Break
New York reports a dramatic expansion in the child care deduction under the 1975 law. For 1976 couples with up to 35,000 dollars in combined AGI can claim a 4,800 dollar deduction for child under 15 or a disabled dependent, phased out after 44,600 dollars. The change, praised as a major boost for middle income working parents, clarifies eligibility for part time care and prohibits deduction for wages paid to a dependent relative. it also introduces a 20 percent welfare incentive credit for certain new hires, capped at 1,000 dollars.
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Iowa moves on short term fix for malpractice crisis
Iowa legislators draft a package to provide immediate remedies for doctors unable to obtain malpractice insurance. The plan includes faster case handling, caps on contingency fees, elimination of dollar amount requests, a screening committee for admissible evidence, and a peer review panel to probe allegations. A filing period window is also under review.
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