Raising children is expensive in the U.S., causing financial strain on families across different income levels.
The U.S. Department of Agriculture estimated that child-rearing expenses for a middle-income, two-child family from birth to age 17 were $233,610 in 2015. Adjusted for inflation, this figure is nearly $286,000 in 2022.
Child care costs have risen significantly, surpassing inflation rates. In 2020, child care expenses increased by 5.03% compared to an annual inflation rate of 1.2%.
There are more than 12.5 million children living in poverty in the U.S., and even middle-class families are struggling to cover daily expenses.
Various policies aimed at assisting families are insufficient to address the problem. The U.S. has been hesitant to implement comprehensive family policies.
Child care in the U.S. is characterized by a fragmented system of subsidies, tax credits, and grants to states. This results in a lack of universality and affordability.
Economists and experts point out that child care costs in some areas can exceed in-state public college tuition fees.
US child care system is a patchwork, lacking universality and affordability. Federal investment in child care infrastructure is necessary for widespread access.
President Biden's infrastructure bill aimed to address family support, but it faced opposition. Rebalancing federal investments towards children could ease financial burdens.