Elizabeth Warren's universal child care proposal comes as child-care costs in America have soared to
Elizabeth Warren’s universal child care proposal comes as child-care costs in America have soared to nearly $10K per year
In every region, child-care costs are roughly double the price of a year’s tuition to an in-state public university
By ANDREW KESHNER
REPORTER
...Warren, a Democratic senator from Massachusetts, says she wants to use a “wealth tax” to fund subsidies that would cover the entire cost of child care for families who make below 200% of federal poverty-level income (about $51,200 for a family of four). The proposal would also pay for care for families who earn more, capping the cost at 7% of a family’s income.
Families shouldn’t spend more than 7% of their income on child care, according to a 2016 recommendation by the Department of Health and Human Services, but there’s no state in the country where parents can follow that recommendation, a 2018 analysis by Child Care Aware of America found.
Parents across the country spent $9,000 to $9,600 annually for one child’s day care in 2017, up roughly 7.5% on the year, according to Child Care Aware of America’s study of national average costs. “No matter how you look at the statistics, child care is unaffordable for families across the country,” it said.
The clamp on household budgets is getting tighter. A married couple making the national median income ($87,757) will have to devote 10.6% of their money for child care, up from 10.2% the year before.
https://www.marketwatch.com/story/child-care-costs-just-hit-a-new-high-2018-10-22
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