Inflation Reduction Act falls short on child care crisis, some say
The energy, tax and health care bill known as the Inflation Reduction Act of 2022 extends Affordable Care Act health insurance subsidies that were set to expire this year. The bill reduces prescription drug costs, continues premium subsidies for three more years, makes the tax code fairer and takes steps to address the climate emergency, as Forbes reported.
However, it’s also a stripped-down version of the Build Back Better bill that Democrats proposed last year, and the revisions are disappointing to many who had hoped for a potential solution to the child care crisis.
“It’s been a long, arduous journey to the budget reconciliation bill announced late yesterday, but one thing has been constant throughout many months of this debate,” said Kristin Rowe-Finkbeiner, executive director of the advocacy group MomsRising, as Forbes reported. “Despite some important advances, lawmakers have a lot of work still to do for our country’s women and families.”
Rowe-Finkbeiner believes a stronger child care infrastructure, including monthly child tax credit payments, is the key to helping families make ends meet amid inflation, supply chain shortages and fears of recession.