GUEST COLUMN: For a better society tomorrow, lift today’s children out of poverty! | Guest columnists
This pandemic was brutal. The children are not doing well. One in six children live below the poverty line, 30% for black children and 24% for Latino children, according to the Children’s Defense Fund. Making the extended child tax credit, payable monthly, permanent will significantly reduce child poverty. Not only is it the right thing to do, it’s the smart thing to do. Moody’s Analytics estimates that Biden’s plans for jobs and families are expected to pay off in 15 years and increase real GDP by nearly $ 1 trillion in 15 years.
Helping children and their parents has big benefits, even more than a return to physical infrastructure. Study after study, programs like Food Stamps, Earned Income Credit, and Medicaid have made lives more educated, healthier, longer and more productive, all of which makes our economy stronger. We know that nutrition, medical care, and early intellectual stimulation are essential for physical, emotional and cognitive development. Children enrolled in preschool education programs are more likely to go to college, earn more money, be healthier, and not receive government support.
Currently, Early Head Start serves only 11% of eligible children and Head Start only serves 36% of eligible children. 60% of parents say child care and daycare costs are a financial loss. Child care accounts for 14% of the income of middle-class families and 35% of low-income families. Public spending on children in the United States is well below the average for other advanced economy countries. While the United States spends around $ 2,500 per year on child care and preschool education per child, the average in Europe is $ 4,700 and over $ 10,000 in Norway and Sweden.