Research shows that early childhood is a time of rapid psychological development that serves as the foundation for a wide array of cognitive, social, and health outcomes that are highly responsive to increases in household income. Scholars working with the Robert Woods Johnson Foundation simulated the potential impact of three different universal child allowance models: These changes were found to be relatively similar across racial and ethnic lines and had a particularly notable effect on poverty among families with unmarried cohabiting partners, dropping poverty in this group from just over twenty-one percent to just over twelve percent.
Based on a cost-benefit analysis conducted by these scholars that accounts for the savings from the child tax exemption and the Child Tax Credit, costs of a tiered universal child allowance would range from sixty-three dollars for the tiered and equalized model to billion dollars for the tiered model.
The United States already recognizes the value of assisting its citizens with childcare via the child tax exemption and Child Tax Credit.
The Long-Run Impacts of a Universal Child Care Program
While these programs have been helpful to middle-income families, they have systematically omitted low-income families, and their once-yearly payment schedule is not designed to address the growing epidemic of family income instability throughout the year. By replacing these two tax-based programs with a universal child allowance, the United States would provide an income floor for all families with children and formally recognize the notion that the well-being of future generations is worth a significant social investment.
Accessed April 05, A Treatise on the Family. Harvard University Press, Mcloyd, and Gene H. Accessed September 20, Lawrence Aber, and William R.
The Case for a Universal Child Allowance in the United States
Evidence from the Earned Income Tax Credit. University of Chicago Press. Accessed November 17, Duncan and Richard J. Accessed September 27, He received his B. Prior to this, he worked on the roll-out of the Affordable Care Act, helping inform and educate consumers about their new rights and options as a field organizer.
The Long-Run Impacts of a Universal Child Care Program
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