AS THE owner of a child care center, I’ve seen first-hand the struggles working families face as they juggle multiple jobs, everyday expenses, and, over the last year, the COVID pandemic. As those at the very top of the economic ladder have seen their fortunes grow over the last year, the working parents I speak with day after day have found it harder and harder just to get by. It doesn’t have to be this way and we have a real opportunity to improve the lives of nearly every Granite Stater, especially for our children and parents
Congress is currently working on legislation — also known as the budget reconciliation bill — which is a once-in-a-generation opportunity to make life-changing investments in health care, child care, and the bedrock of our economy — middle class families.
As anyone who has seen the hiring signs dotting storefront windows knows, employers are finding it very difficult to hire employees. There’s no one answer to this problem; however, it’s clear that access to child care is a significant issue — especially for young families. A 2018 study of millennials found that the cost of child care in New Hampshire represents more than 50% of a parent’s median income. Simply put, the child care costs are too high to justify some parents entering the workforce. The largest loss in the New Hampshire workforce has been young mothers — also known as the ‘shecession’ — who literally can’t afford to work because child care is too expensive and not accessible.
Thankfully our congressional delegation is working to address these child care challenges through tax credits, universal paid family leave, expanded pre-K, and workforce investments. It’s encouraging to see Senator Jeanne Shaheen and Senator Maggie Hassan, Congressman Chris Pappas, and Congresswoman Ann Kuster making this a priority and working so diligently to move the ball forward on this critical issue.
Anytime new programs are discussed, especially here in New Hampshire, folks go right to the price tag. Our delegation and President Joe Biden have been clear: no one making less than $400,000 per year will see their taxes go up. In fact, because of these investments, many will see their expenses go down.
The best way to move forward with these proposals, which will rebuild the middle class, is by having the people at the top — the ultra-millionaires and billionaires — finally pay their fair share. This is about rewarding work, not wealth. It’s about fairness plain and simple.
This summer a report from ProPublica found that the top 25 richest billionaires paid almost nothing in federal income taxes for years now. They used loopholes that allowed them to avoid paying any taxes on their investment assets and utilize credit, rather than income, to pay for everyday expenses giving them further write-offs. These billionaires pay a lower tax rate than working families, the same ones struggling to pay for child care. And, these billionaires saw their wealth increase by over 40 percent during the pandemic.
A wealth tax is not a new concept. For most Granite Staters, their wealth is driven by their largest asset — their house — which they pay taxes on every year. All we’re asking is that the wealthiest Americans are treated like the rest of us. A wealth tax on the ultra-millionaires is a fiscally responsible solution and has the wide support of Americans across party lines, with nearly 80 percent of Americans, including independents, Democrats, and Republicans, supporting it. That’s right. We can pay for these vital investments in child care, lift up children out of poverty, rebuild the middle class, and a majority of Americans from all parties agree on how we pay for it. This is truly a unique moment that we must capitalize on for our families and future.
Let’s rebuild the middle class. Let’s get this done.
Julie Salois-Tourville has been a professional in the early childhood field for more than 30 years. She lives in Auburn.
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