Democratic presidential candidate Sen. Elizabeth Warren unveiled her plan for “Universal Child Care” on Tuesday, saying she plans to pay for the program by raising taxes on Americans who are worth more than $50 million.
“In the wealthiest country on the planet, access to affordable and high-quality child care and early education should be a right, not a privilege reserved for the rich,” Mrs. Warren, Massachusetts Democrat, wrote in a Medium post.
Billed as the Universal Child Care and Early Learning plan, Mrs. Warren said it will guarantee free or affordable child care for every child in America from birth until kindergarten.
The plan 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, and families who surpass that 200 percent would be capped at spending no more than 7 percent of their income on child care, the senator’s post stated.
She said the entire plan would be funded by her proposed “Ultra-Millionaire Tax,” which raises taxes on “the wealthiest families in America” worth more than $50 million.
“Experts project that the Ultra-Millionaire Tax will generate $2.75 trillion in new government revenue over the next ten years,” the senator wrote. “That’s about four times more than the entire cost of my Universal Child Care and Early Learning plan.”
“More than a million child-care workers will get higher wages and more money to spend,” she argued. “More parents can work more hours if they choose to, producing stronger economic growth. And a generation of kids will get the early instruction they need to be healthier and more productive members of society after high school and beyond.”
Mrs. Warren said her program would be similar to the child care program that the American military currently offers. She also specified that no one would be required to enroll in the program.
The senator finished her post by asked readers to sign a petition supporting her plan.