New parents should have a tax-advantaged plan like savers for college and retirement do
As the middle class gets ever more squeezed, families are told to take advantage of tax-advantaged, long-term investing—18 years to fund a 529 college savings plan, or an entire working life to contribute to a retirement account."
Government is right to use the tax code to help families plan for expensive and aspirational events many years in the future, from college to retirement. It should do more to help manage huge costs that are created without much time to plan, especially when they are as important to parents, children, and all of us, as high-quality child care. That's why the "Childcare Advance" is so important—to help families with the middle-class squeeze before they are squeezed out of the middle class right at the start."