Indianapolis-- U.S. Senator Evan Bayh today visited Indianapolis to announce his support for legislation that will help Middle Class families struggling with the growing costs of raising children and caring for aging parents. At the press conference, Bayh was joined by Stephanie Bedolla, whose family would be able to claim an additional $450 in tax credits next year through Bayh's proposal to help with the high costs of child care.

"A middle class life has never been easy, but it's getting harder by the day. The cost of raising a child has increased 24 percent over the past ten years alone," Senator Bayh said. "Too often, people in Washington talk about family values, but this legislation actually does something to strengthen them, making it easier for more Hoosiers who are struggling to do right by their families."

The Middle Class Opportunity Act, introduced by Senator Chuck Schumer (D-NY) and co-sponsored by Senator Bayh, would offer important help for Middle Class families, including increasing and expanding key child and senior tax credits. To help families with the high costs associated with the first year of a child's life, the child tax credit would be doubled to $2,000 for a child's first year. Based on current trends, more than 74,000 Hoosier families would qualify for the doubled tax credit when they give birth next year.

In addition, families like the Bedollas making between $43,000 and $100,000 would be able to deduct as much as 35 percent of child care costs from their taxes, as opposed to only 20 percent today. More than 50,000 Hoosier families would benefit from this legislation, with the average, two-child family saving about $900 in costs for that care every year.

And for the first time, families who care for an aging parent or grandparent would be able to claim an elder tax credit even if that person does not live in their home, to help families caring for loved ones who still live in their own home or have moved to an assisted living center.

"Our aging population means that more families are caring for their children and their aging parents, too," Senator Bayh said. "This legislation will provide much-needed tax relief for hardworking families who are trying to do right by their children and parents."

Senator Bayh has been a leader in the effort to provide Middle Class families with important tax relief that will help them face the challenges in today's economy. Just last month, he met with Hoosier families across Indiana who would benefit from legislation he supports to make higher education more affordable.

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