Warren Proposes Universal Child Care Plan Funded by Wealth Tax
- Proposal would limit child care expenses to 7% of income
- Plan estimated to cost taxpayers about $70 billion annually
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Democratic presidential candidate Elizabeth Warren proposed a universal child care plan that would limit American families’ expenses to 7 percent of income regardless of how many children they have in care -- paid for by a tax on the ultra-wealthy.
The Massachusetts senator’s plan, unveiled Tuesday on Medium.com, would make child care free for families with incomes below 200 percent of the poverty level, or less than $51,500 for a family of four. Other families would pay up to 7 percent of income, depending on how much they earn.