Harriet Torry
speaker
611 appearances
11 recordings
1 series
first heard Sep 2017
last heard Dec 2024
Harriet Torry’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Child Care Will Be on the Ballot in Several U.S. States · 31 Oct 2024
podcast
She just couldn't make it work.
She couldn't make the math work.
There is some movement on the federal level.
Bills have been introduced in the House and in the Senate, particularly on the tax credit side, because there are tax credits available to employers and to employees for childcare.
So there is movement on the federal level.
But for some states that are really facing these demographic problems, they've just taken action themselves.
An interesting example of this is Vermont, which has essentially the opposite problem of Texas.
Vermont has one of the lowest fertility rates in the whole country.
It has a rapidly aging population.
And they introduced a new payroll tax.
earlier this year, which will go to fund childcare so that the workers that they do have are able to work and just to attract more people back into the labor force.
So different states are approaching this in different ways, but they ultimately all have the same goal, which is to try and just make it easier for people to combine work and caregiving for the benefit of the local economies.
Both sides have been talking about expanding child tax credits.
And again, this is something that we've seen in the Senate, that tax credits for childcare and for families in general could be a potential way forward.
More specifically, Donald Trump hasn't offered a plan per se, but he has talked about how important this issue is for the country.
And he said that he expects that the country will be bringing in so much money from taxing foreign nations that that will help.
to take care of the childcare issue.
And for Kamala Harris's side, she has said that her plan is for working families to spend no more than 7% of their income on childcare.
This has largely come down to consumers.
So at the beginning of this year, most economists thought that the economy was going to head into a recession pretty quickly.
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