By Monique Cala University of New Mexico/ Talk Radio News Service
The Middle Class Task Force announced Monday a near doubling of the Child and Dependent Care tax credit for families making less than $85 thousand a year.
The Vice President's Chief Economic Adviser, Jared Bernstein, discussed the newly announced plan in a White House conference call with reports, and explained that the program will reach an additional 200 thousand families.
“The middle class can stretch a lot higher up the income scale than some of these programs previously reached,” said Bernstein. “Full time care for an infant can cost more than $10 thousand a year. Monthly child care fees for two children can often be higher than your rent. So these are serious budget issues affecting millions of working families.”
The budget for the child care tax credit and other progrms proposed by the Middle Class Task Force will be released on February, 1st. Additional plans include reducing school loans to 10 percent of the students income after graduation, with debt forgiveness after 20 years, or 10 years if a student decides to work in public service.
Child Care Tax Credit Covers An Additional 200,000 Families
The Middle Class Task Force announced Monday a near doubling of the Child and Dependent Care tax credit for families making less than $85 thousand a year.
The Vice President's Chief Economic Adviser, Jared Bernstein, discussed the newly announced plan in a White House conference call with reports, and explained that the program will reach an additional 200 thousand families.
“The middle class can stretch a lot higher up the income scale than some of these programs previously reached,” said Bernstein. “Full time care for an infant can cost more than $10 thousand a year. Monthly child care fees for two children can often be higher than your rent. So these are serious budget issues affecting millions of working families.”
The budget for the child care tax credit and other progrms proposed by the Middle Class Task Force will be released on February, 1st. Additional plans include reducing school loans to 10 percent of the students income after graduation, with debt forgiveness after 20 years, or 10 years if a student decides to work in public service.
A full list of programs announced today can be found at www.astrongermiddleclass.gov