Fresh off the State of the Union, President Obama announced a landmark proposal to help all working families with young children afford child care.
The full Fact Sheet from the White House on the new child care proposal is copied below:
FACT SHEET: Helping All Working Families with Young Children Afford Child Care
“In today’s economy, when having both parents in the workforce is an economic necessity for many families, we need affordable, high-quality childcare more than ever. It’s not a nice-to-have — it’s a must-have. So it’s time we stop treating childcare as a side issue, or as a women’s issue, and treat it like the national economic priority that it is for all of us.”
– President Obama, State of the Union Address, January 20, 2015
Helping working Americans meet the needs of their jobs and their families is a key part of the President’s plan to bolster and expand the middle class. Access to high-quality child care and early education not only promotes a child’s development, but it also helps support parents who are struggling to balance work and family obligations. A safe, nurturing environment that enriches children’s development is critical to working families and is one of the best investments we can make in our economy. Yet today, a year of child care costs more than a year of in-state tuition at most colleges – putting a significant strain on parents.
Ensuring that children have access to high quality and affordable early childhood programs can help children prepare for school and succeed in later life while strengthening parents’ ability to go to work, advance their career, and increase their earning potential. Research shows that money spent on young children is an effective investment, yielding benefits immediately to parents and for many decades to come for the children. For example, the President’s Council of Economic Advisors’ report on the Economics of Early Childhood indicate that investments in high-quality early education generate economic returns of over $8 for every $1 spent.
Today, President Obama outlined his plan to make affordable, quality child care available to every working and middle-class family with young children. His plan includes:
- Making a landmark investment in the Child Care and Development Fund that helps every eligible family with young children afford high-quality child care.
- Tripling the maximum child care tax credit to $3,000 per young child.
- Creating a new innovation fund to help states design programs that better serve families that face unique challenges in finding quality care, such as those in rural areas or working non-traditional hours.
Two years ago, the President called for a continuum of high-quality early learning for America’s children – including support for children and their parents beginning prenatally with evidence-based home visitation for young children and new and expecting parents and continuing through high-quality preschool for America’s 4-year olds. Over the past two years, the federal government, states, philanthropists, and business leaders have invested nearly $3 billion in high-quality preschool and early education. Today’s announcement builds on these continuing efforts to make high-quality early education and child care available for all. These investments to expand and strengthen child care and early education programs complement the Administration’s other efforts to help working families, including offering workers the opportunity to earn paid sick and family leave, a higher minimum wage, and equal pay for women.
To read more about the proposal, check out the full fact sheet at: http://www.whitehouse.gov/the-press-office/2015/01/21/fact-sheet-helping-all-working-families-young-children-afford-child-care