Lawmakers Approve Tax Credits to Tackle Oklahoma’s Child Care Crisis
Oklahoma House Advances Tax Credits to Tackle Child Care Crisis
Lawmakers in the House have given the green light to two new tax credits aimed at helping Oklahoma‘s struggling child care sector and assisting parents in returning to work. Suzanne Schreiber, emphasized that the lack of affordable child care options is keeping many people out of the workforce.
The proposed tax credits aim to address the ongoing child care crisis in Oklahoma, which has significant economic repercussions. According to a study by the Greater Oklahoma City Chamber, the state loses $1.2 billion annually due to child care challenges. Many women have left the workforce since the pandemic began. The lack of accessible and affordable child care options has hindered both parents ability to work and the overall growth of the workforce.
Tax Credits – Oklahoma Lawmakers Propose to Support Child Care Business and Providers (PHOTO: Oklahoma Voice)
Lawmakers Navigate Concerns and Advocacy in Approving Child Care Tax Credits
Rep. Jim Olsen express concerns about the potential unintended consequences of the tax credits advocates argue that they are crucial steps in addressing the child care shortage. Chad Warmington, from The State Chamber of Oklahoma, sees child care as essential infrastructure for the workforce. With the approval of these tax credits policymakers aim to provide much needed support to both child care providers.
