attain, overhauling a clumsy regulatory system that does essential work but in an inefficient way, acknowledging that childcare workers deserve a living wage, and working on private-public partnerships that engage employers and employees. Many employers are working hard to make childcare accessible and affordable, finding that productivity skyrockets when they do so. These efforts are possible only for large or nimble and well-funded companies that can afford facilities and staff. Companies like Bloomberg offer a menu of childcare options, including a child care subsidy, dependent care pre-tax flexible spending account (FSA), backup child care, a child care referral service, and parental leave. Other companies provide tuition assistance, often paid directly to childcare centers. Ann Covington is the local owner of Covington Alsina, a financial planning firm in Annapolis. She provided an extra room in her office for her employees' young children to use on sick or bad-weather days.
Covington notes that while there are some tax deductions for a limited and specific menu of dependent childcare expenses, neither the state nor the federal government have a program that allows parents to save for early childcare as they do for college, such as a 529 plan. We close by acknowledging with empathy and sympathy the great stress that finding and affording childcare places on everyone: families, employers, child care experts, and policy makers. When growing a family becomes a choice between paying for rent and food over bringing children into the world, we all acknowledge this problem needs a solution. Stay tuned for future stories about this important topic, and as always, please share your stories with us at editor@annapolismomsmedia.com.
This article was only copy edited at the author's request.
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