Joe Biden wants to give working families a break on child-care costs, plus paid time off and access to universal pre-K. (via CNBCMakeIt)
Parents who aren't interested in a tax credit could opt for a subsidy. Biden's plan, which is modeled off theproposed by Senator Patty Murray and Congressman Bobby Scott , calls for child care assistance for families earning up to 150% of their state's median income, no matter the type of care they choose. No family earning below that will have to pay more than 7% of their income, according to campaign senior officials.
released in June. About 55% of families surveyed report spending at least $10,000 per year on child care. While income levels vary broadly by state, a family earning roughly $100,000 per year would typically be covered by the proposed subsidy program, says Katie Hamm, vice president of early childhood policy at the left-leaning Center for American Progress in Washington, D.C.shows that the typical family would pay no more than $45 a week for child care. For low-income families, early child-care costs would be fully covered.
To help boost child-care worker pay, Biden plans to raise the federal minimum wage for all workers to $15 an hour, senior campaign staff tell CNBC Make It. Biden's plan would also require participating providers in his proposed sliding-scale subsidy program to meet wage and benefit standards and pay early childhood educators the same as elementary school teachers if they have the same credentials and experience.
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