A bipartisan effort by US lawmakers seeks to expand the provisions for the child tax credits to $2,000 per child, which could even recognized in the upcoming tax season. Care.com CEO Brad Wilson joins Yahoo Finance Live to discuss what this legislation could mean for childcare costs and parents in the United States. "A lot of this research also suggests that this would lift a lot of families out of poverty, and I think that the running number right now is about 400,000 children," Wilson says, identifying the tax credit expansion is far lower than the temporary $3,500 per child pushed by President Biden in 2021. "So it's a start, but I think... the data that we certainly see in our cost of care reports suggests that we need a whole lot more." Wilson also comments on how companies are accommodating employees' childcare needs, how much higher costs could go, and whether childcare will be a factor in the 2024 US presidential election. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.

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