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RICHMOND, Va. — With exactly two months to go before the governor announces his proposed budget amendments on Dec. 18, Freedom Virginia today called on Gov. Glenn Youngkin to include at least $112 million in funding to clear the waitlist for a key child care cost savings program in Virginia.
The Child Care Subsidy Program (CCSP), has run out of funding, with three months left in 2024. As of Oct. 1, there are 9,657 children on the waitlist, according to an Oct. 9 presentation of the Virginia Commission on Early Childhood Care and Education.
“This new report shows too many hardworking families are struggling to afford child care right now, and it’s jeopardizing their ability to stay in the workforce,” said Ryan O’Toole, Co-Executive Director of Freedom Virginia. “As the governor prepares his proposed budget amendments for two months from today, we call on him to include enough funding to clear this waitlist. Virginia can fund the right priorities, like schools and child care, through tax reform that asks corporations and the ultra-wealthy to pay their fair share. It’s not right that working parents can’t afford child care while people who make more than $1 million per year are paying the same tax rate as teachers and janitors.”
A millionaire’s tax, which would only apply to income earned over $1 million per year, would generate well over $1 billion in revenue per year. This proposal would only apply to about 17,000 filers in Virginia.
Additionally, Virginia’s public schools are facing a $3.5 billion shortfall, while it would cost $1.6 billion every year for 10 years to build the 200,000 affordable housing units for which there is a statewide need. Meanwhile, corporations are able to exploit loopholes while the middle class do not even have access to a child tax credit. By adopting combined reporting, the commonwealth would close a massive tax loophole that allows corporations to report profits generated in Virginia in other states. The reform is estimated to generate between $165 million and $203 million in new revenue that could be used to help fund the right priorities.
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