FFYF Applauds Efforts In Washington To Address The High Costs Of Child Care

Reports Note Ivanka Trump, Lawmakers Met To Discuss Potential Proposals

 

Washington, D.C. – Kris Perry, Executive Director of the First Five Years Fund (FFYF), released the following statement amid reports Ivanka Trump met with lawmakers to urge them to write “a tax overhaul to include a deduction for child care expenses.”

“We applaud Ivanka Trump and the broad coalition of bipartisan policymakers in Washington who are working to make child care and early learning programs more affordable and accessible. 

“FFYF understands improving our nation’s outdated tax policy – coupled with federal investments in high-quality, evidence-based early learning programs for children from birth through age five – is critical to expanding access to care for more families in need.

“We look forward to working with Ivanka, Members of Congress, and a broad group of stakeholders this year to expand high-quality early learning and care for more children across America.”

Research shows investing in high-quality early childhood education programs – especially for disadvantaged children – creates greater returns for all Americans by improving education, health, and economic productivity nationwide. Recent analysis by Nobel Laureate Professor James Heckman found high-quality early learning programs return an average of $6.30 for every dollar invested and deliver a 13 percent annual rate of return.

While the current tax code includes numerous provisions to help families offset higher education costs, few incentives exist to offset early childhood education expenses. FFYF recently released its “Tax Proposals That Support Working Families” and its “Early Childhood Education Policy Framework” to outline how Congress and the Trump Administration can use tax reform and continued federal investments in early learning programs to expand access to high-quality early childhood programs.

FFYF is also a member and strong supporter of the Early Childhood Education Action Tank, a diverse coalition of children’s advocacy groups, businesses, and financial institutions, convened by the Save the Children Action Network. The group recently released its report “Innovative Financing For Early Childhood Education” outlining ways the tax code can be used to help low- and middle-income families pay for child care and preschool.

FFYF is a bipartisan organization that provides deep knowledge and resources to advocate for proven investments in federal policies that support the first five years of a child’s life. To learn more about FFYF visit http://www.ffyf.org.