North Dakota Senate passes bill to give tax credits to parents
BISMARCK, N.D. (KFYR) - For parents across North Dakota, it is no secret that the cost of childcare is a hefty bill — one that many cannot afford.
“Absolutely no way we would do it now with three, when we could barely, you know, my whole paycheck was gone with two,” said Kaitlyn Holmes, Bismarck mom.
Senate Bill 2237 was passed in the North Dakota Senate to help with those costs. Those who voted for it believe the tax credit will help middle-class families with incomes between $80,000 and $120,000 afford childcare, and in doing so, boost the state’s labor market.
“So, we’re right in the middle, and that’s where it sucks for people who are in the middle, so we don’t qualify for certain things like assistance, but that would still help us,” said Mandee Paulson, Bismarck mom.
According to the Center for Economic Studies, 60% of households in America are dual-income.
“With both incomes combined, we didn’t qualify for childcare assistance, so it was all out of pocket,” said Holmes.
Many families say one adult staying home with the children makes the most sense financially.
“Money that’s not even really going to us, it’s going to daycare, it just made more sense for me to be home and me to raise them,” said Holmes.
The bill, if passed in the House of Representatives, would cost the state an estimated $9.9 million in tax revenue, and unlike other bills to help stimulate childcare centers, this would help parents directly.
The chamber’s Finance and Taxation Committee recommended against passing the bill, but it was passed 33-14.
Copyright 2023 KFYR. All rights reserved.