Those of you who voted for Trump and thought that he was going to help you pay for child care like he promised should be thrilled – if you make a lot of money. The wealthy will absolutely see a cut in the child care costs due to a tax break. Those people in the working and middle class, well you are screwed.
According to a report done by the Center for American Progress estimated that a family of four making around 68,000 dollars would see a benefit of five bucks. That’s right, five whole dollars to spend on child care. But if your are making 250,000 and have a family of four, you are apt to see a savings of more that 7500 dollars.
ThinkProgress reminds us of Trump’s promise,
On the campaign trail, Trump put forward a plan that he claimed would make the astronomical cost of childcare come back down to earth: allowing families to fully deduct what they spend up to a certain cap, while offering a “rebate” for lower-income families and tax-free savings accounts. Once in office, he promised he would be “fighting to make sure that all mothers, and all families, have access to affordable childcare.”
Like everything else this too was a lie. – Jan Harrison