Tracing the Impact of Trump’s Child Care Plan
A new report from the Urban Institute finds that President Trump’s proposals related to child care would mostly benefit wealthy Americans. Who Benefits from President Trump’s Child Care Proposals? examines the impact of three policies: an expanded child care tax credit for low-income families, a tax deduction for higher-income families, and child care savings accounts. The analysis finds that more than 70 percent of the total tax benefits would go to families with incomes above $100,000, and that families with incomes below $40,000 would see their after-tax income increase by $20 or less.