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Childcare in "Build Back Better"

Thursday, October 14, 2021 21:04

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Section 23001 of the “Build Back Better” bill would use the Obamacare mold to create a federal childcare program.

Low-cost (a.k.a., “low quality”) childcare would prohibited unless the provider were to forgo all federal dollars, which would involve something like having zero children from a family at or below 125 percent median income.

Childcare workers would have to be paid as much as elementary-school teachers.
According to the Bureau of Labor Statistics, elementary school teachers earned an average of $55,640 annually in 2019.
The same BLS data show childcare workers earning an average of $23,930. I.e., under BBB childcare would have to pay them 133% more.
A 133% increase is similar to the increase in individual health insurance premiums that occurred when Obamacare came into effect.

Families would pay on a sliding scale. i.e., earning more means paying more for the same childcare.

Above 150% median family income ($102K annually), the implicit marginal tax rate would be 7% per child until the benefit is exhausted.

For a family with two children, that would be 14 percentage points more on its marginal tax rate up to an income of $214K

Between 75% and 150% median, the implicit marginal tax rate is about 14 percent per child.

For a family with two children, that would be 28 percentage points more on its marginal tax rate

Although there are loopholes, a child eligibility requires a parent to be employed (part-time is OK), self-employed, engaged in job search, job training, school, or on medical leave.

Section 23002 creates a universal public pre-school program

no tuition charged to parents
applies to exactly two cohorts of children (age 3 and age 4).

Source: http://caseymulligan.blogspot.com/2021/10/childcare-in-build-back-better.html

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