Ivanka Trump In The White House: First Daughter Pushes For $500 Billion Child Care Tax Break
Ivanka Trump is making sure her father makes good on his campaign promises for better child care policies.
The First Daughter met with Republican members of the House and Senate last week to roll out an aggressive tax reform featuring a whopping $500 billion deduction for child care expenses, according to a Thursday Bloomberg report. Though her dad's only been in office for a few weeks, now-President Donald Trump had previously vowed to cut taxes and create a more comprehensive tax plan along with better benefits regarding child care.
The president recently said tax reform would be at the top of his agenda, which also included creating an alternative plan to replace Obamacare, during his second month in office.
Although not many details of Ivanka Trump’s meeting with the Republicans had been released Thursday, her proposed tax overhaul most likely included a paid maternity leave requirement along with the child care benefit, Dina Powell, a former Goldman Sachs executive who now works as an economic advisor, told Bloomberg.
Ivanka’s Trump plan, which was reportedly similar to the one her father proposed during his campaign, would make room for single parents making less than $250,000 and couples earning less than $500,000 combined to deduct child care expenses from their income tax. Meanwhile, lower-income families that don’t qualify for tax liability would be offered a rebate for their child care costs, which would be paid out with a larger earned income tax credit.
Ivanka Trump’s tax break would likely be popular among families and working parents. But members of Congress might not be so quick to approve the deduction due to its hefty price tag. Not to mention, the biggest benefits of the child care plan would most likely aid well-off or dual-income families who pay for child care services.
News of her meeting came about a month after the presidential transition team spoke with House Ways & Means Committee via conference call to discuss Ivanka Trump’s childcare reform pitch. At the time, it included a childcare tax credit and six weeks maternity leave protection that would only cost roughly $300 billion.
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