The staff at First Five Years Fund have put together a cheat sheet for facts regarding child care financials, improvements, and resources proposed in the Build Back Better Act, as presented by the Biden administration.
Key Facts About the Child Care & Pre-K Proposal in the Framework:
- Expands access to high-quality, affordable child care to about 20 million children per year and covers 9 out of 10 families across the country with young children.
- Limits child care costs for families to no more than 7% of income for families earning up to 250% of state median income.
- The vast majority of working American families of four earning less than $300,000 per year will pay no more than 7% of their income on child care for children under 6.
- For two parents with one toddler earning $100,000 per year, the framework will produce more than $5,000 in child care savings per year saving American families more than $5,000 each year in child care costs.
- Creates millions of jobs for both early educators and parents while supporting providers with increased wages to shore up and strengthen the child care industry
FFYF works to sustain and expand the support for early learning that exists at the federal level, while identifying and advancing new and innovative ways to increase access to high-quality early childhood education for children from low-income families.
Source was published on November 3, 2021. To view the report or download the pdf, click here.