Obama's budget outline for 2010 includes a provision that would alter the existing Saver's Credit to "provide a 50 percent match on the first $1,000 of retirement savings for families that earn less than $65,000," thereby increasing retirment savings incentives for working parents.

The stimulus legislation [PDF] approved by President Obama allocates about $116 billion for the $400 per-worker, $800 per-couple Making Work Pay tax credit in 2009 and 2010.

The stimulus compromise includes a $400 tax credit for individual workers up to $75,000, phasing out for higher incomes up to $100,000. Couples would get $800 up to $150,000, phasing out at $200,000. This is a scale-back from Obama's original request of $500 and $1,000, respectively. The credit would work out to about $13 a week.

Obama signed an expansion of the State Children's Health Insurance Program, increasing the number of children eligible from 7 million to 11 million.

The House-passed stimulus package includes an increase in the Earned Income Tax Credit to 45 percent (from 40 percent) for working families with three or more children.

Congress could soon give Obama the opportunity to claim victory on the State Children's Health Insurance Program and an expanded Earned Income Tax Credit, and Vice President-elect Joe Biden will lead a new task force on working families.