Squadron, O’Donnell’s Childcare Advance Could Help 134,000 NY Families A Year
NEW YORK – Today, State Senator Daniel Squadron and Assembly Member Daniel O'Donnell announced introduction of the “Childcare Advance” into the Assembly. The Childcare Advance (S.6714/A.9699) would allow families to defer $2,000 in state taxes annually to help offset costs of work-related childcare for young children, while increasing economic activity, including by better allowing parents to continue working. Once children are school-age, families would begin interest-free repayments of those deferrals, spread over up to 10 years.
Squadron and O’Donnell’s Childcare Advance is a first-of-its-kind, innovative use of the state tax system to help spread out the high costs of childcare, which can be crushing during key early childhood years. It is estimated that 134,000 families would likely use the Childcare Advance yearly. Because it is a deferral of taxes, its cost to the State would reduce each year, even though benefits would continue to be available for all eligible families each year.
"Any new family knows what a challenge childcare costs are. The Childcare Advance is an innovative way to help families cope in the critical, and expensive, early years," said State Senator Daniel Squadron. "I urge the Legislature to build upon Paid Family Leave by passing the Childcare Advance, along with increasing childcare subsidies. I am pleased Assembly Member O'Donnell is carrying this legislation, and thank my colleagues in the Democratic Conference for the continued push to help make it easier to raise a family in New York."
“I often hear from my constituents about the unexpectedly high costs associated with having a new child, particularly the cost of quality childcare. I am proud to sponsor this important legislation in the Assembly which would allow families to take an interest-free loan from the state to cover some of those expenses. This legislation is an innovative approach to helping families remain in the workforce while helping families pay for affordable care for their children. It is a win-win for families and the state.” said Assembly Member O’Donnell.
The proposal was first put forward by Squadron in “Pre-Natal to Pre-K: Supporting New York’s Families,” a white paper released by the Senate Democratic Conference and Senate Democratic Policy Group, which Squadron chairs.
Daniel O’Donnell, the first openly gay man elected to the New York State Assembly, has been a progressive voice advocating fair and sensible legislation since he was elected to represent the 69th District in 2002, including the author and sponsor of New York State’s Marriage Equality Law, which was signed into law in 2011. His district includes Manhattan Valley, Morningside Heights, and the Upper West Side. He serves as the Chair of the Correction Committee, and of the Codes Subcommittee on Criminal Procedure; and is a member of the Education; Codes; Environmental Conservation; Oversight, Analysis & Investigation; and Tourism, Arts & Sports Development committees.
Daniel Squadron represents the 26th New York State Senate District. In addition to Chairing the Senate Democratic Conference Policy Group, Squadron is the ranking Democrat on the Senate’s Codes Committee. Squadron’s district includes the Brooklyn neighborhoods of Brooklyn Heights, Carroll Gardens, Cobble Hill, the Columbia Waterfront, DUMBO, Downtown Brooklyn, Fulton Ferry, Greenpoint, the Navy Yard, Vinegar Hill, and Williamsburg, and the Manhattan neighborhoods of Battery Park City, Chinatown, the East and South Village, the Financial District, Little Italy, the Lower East Side, SoHo, and Tribeca.