Sen. Elizabeth Warren unveiled a bold new plan to provide universal childcare to all Americans who want it using the funds from her ultra-millionaire wealth tax plan revealed early in her presidential campaign.
Warren referred to the plan as another “big, structural change” that defines her campaign promises.
“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,” Warren wrote in a Medium post outlining her plan Tuesday.
The Massachusetts senator honed in on the fact that quality child care is hard to find and it often takes up a huge chunk of a family’s income. Warren is promising free childcare for families that make less than 200 percent of the poverty line and that all childcare will be capped at seven percent of a family’s income. “That’s a heck of a lot less than what most families are paying for high-quality child care now,” she wrote.
Warren said the plan will work with local communities — “states, cities, school districts, nonprofits, tribes, faith-based organizations” — to provide care based on new national standards.
The 2020 candidate is calling the program a “win-win-win”: “It’s great for parents, for kids, and for the economy.”
Watch the video below:
Another big, structural change we need: #UniversalChildCare. I’m proposing a bold new plan that guarantees high-quality child care and early education for every child in America. It will be free for millions of families, and affordable for everyone. pic.twitter.com/lFFZO7kwhu
— Elizabeth Warren (@ewarren) February 19, 2019
According to the Huffington Post, Warren’s proposal could cost $700 billion over ten years. But the senator assured voters that her other plans would make up the difference.
Warren’s “Ultra-Millionaire” tax plan that taxes those with a net worth of over $50 million could create $2.75 trillion over 10 years, or as Warren put it, “four times more than the entire cost of my Universal Child Care and Early Learning plan.”
Watch the video below:
The ultra-rich have rigged our economy & rigged our tax rules. We need structural change. That’s why I’m proposing something brand-new: An annual wealth tax on the tippy-top 0.1%. We’d get $3 trillion in new revenue to invest in rebuilding the middle-class. Let’s make it happen. pic.twitter.com/B0ImiSTxez
— Elizabeth Warren (@ewarren) January 25, 2019
Warren estimates that as many as 12 million children could be enrolled in childcare through her program.