Require paid sick leave: Obama backs a proposed law that would allow workers who don’t already receive paid sick time to accumulate up to seven days each year. (A study found more than 40% of workers in the private sector don’t receive the benefit now.)
He is also instituting a new policy for federal employees: six weeks of paid leave for new mothers and fathers, and the same amount of time to care for an ill relative.
Expand child care tax credit: Childcare is expensive, and the federal incentives — like flexible spending accounts and the Child and Dependent Care Tax Credit — offer a patchwork of support.
The White House says Obama’s plan would “streamline” the options into a single credit. It would cover half of childcare costs with a maximum credit of $3,000 per pre-school child.
–
Morningstar: © 2015 Morningstar, Inc. All Rights Reserved.
Factset: FactSet Research Systems Inc. 2015. All rights reserved.
Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.
