Gillibrand wants higher tax write-off for child care
Sen. Kirsten Gillibrand wants to double the tax write-off for child care expenses, saying it will benefit working mothers and families.
Right now 35 percent of a child’s daycare – or up to about $1,000 – can be written off on annual tax filings. Gillibrand’s bill would raise that to half of the expenses, or $3,000. She says making child care more affordable will allow more parents to work full time and bring home more money.
"I think these tax breaks reflect our values," Gillibrand, a New York Democrat, said. "I think it’s a tax break that everyone should be able to agree on. And this is the kind of tax break that allows [families] to have more of what they earn and keep their jobs."
Gillibrand says New York state has among the nation’s highest childcare expenses. Her proposal will be introduced as part of a child development block grant act.
Most parents pay $10-14,000 a year for childcare, which can damper both parents being able to work full time.
"It’s just not affordable. And if only two out of 10 families have one parent working and the other one at home, the reality is most families need affordable childcare," she said.