Biden administration is trying to get support for proposals to overhaul the country's rickety childcare system as she pushes Congress to pass a $ 3.5 trillion to expand social security programs and look for a way to tackle current work shortages.
In a new report released Wednesday , the Treasury Department painted a dire picture of child custody in America, highlighting what 'She calls on the failures of the private sector to provide high-quality care at affordable prices and argues that the federal government must do more to help families care for their children.
"This is no accident - sound economics explains why relying on private money to provide child care is doomed to failure ", the report says.
The Biden administration has already spent nearly $ 40 billion to help child care providers children and daycares with funds approved in the US bailout package, which Congress passed earlier this year. The Treasury Department also distributed advancesmonthly child tax credits for families with children.
On Wednesday afternoon, Vice President Kamala Harris will visit the Treasury Department for Advocate for increased funding for child care.
Mr. Biden's plan includes child care subsidies for low- and middle-income families, a universal preschool for 3- and 4-year-olds, and a permanent extension of tax credits for childcare. children and dependents.
The Treasury report claims that families currently spend around 13% of their income to pay for child care child under 5 years old. Despite the high costs, child care providers tend to be poorly paid.
The disparate nature of the child care systemChildren often encourage a parent to leave the workforce, thus losing access to health insurance and pension benefits. The United States is currently grappling with a labor shortage, and the Biden administration sees increasing access to child care as a way to get people back to work.
"In basic economic terms, the president's proposals will increase both the demand for and the supply of childcare," says The report. “With increased demand, more children will have access to the rich early childhood experiences and more parents will be able to choose to stay in the workforce. "