The Treasury report found that the average family with a child younger than age 5 must devote 13% of its income on care, which is unaffordable for many families. Virginia Foxx of North Carolina, the ranking member of the House Education and Labor Committee, said during debate over the bill.
"We should be focused on ensuring hard-working taxpayers can find the best care for their children rather than blindly throwing money at the problem and calling it a solution," GOP Rep. The breadth and cost of the programs have drawn attacks from Republicans, who accuse Democrats of trying to insert more government control and influence into the lives of Americans from the moment they are born. "That money allowed folks to keep a roof over their heads, to put food on the table, and to be able to pay for the diapers, medicine, and school supplies their kids need," House Ways and Means Committee Chairman Richard Neal of Massachusetts said Tuesday as his committee debated the legislation. The Joint Committee on Taxation projected it would cost $550 billion over a decade - and many Democrats are pledging never to let it expire. The single biggest line item is an extension of the enhanced child tax credit to 2025. A national paid leave program could require roughly $500 billion more.ĭemocrats are also proposing a permanent expansion of the dependent care tax credit, worth nearly $100 billion. House Democrats estimate two pillars of the agenda - universal preschool and child-care subsidies for low-income families - would cost $450 billion. Those programs come with steep price tags. "It's critical to a well-functioning economy." I would also emphasize it's good for the rest of us," said Catherine Wolfram, Treasury's acting assistant secretary for economic policy.
"Having a well-functioning child care sector is good for working families.
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