The cost of raising infants and toddlers—especially childcare—has outpaced inflation, putting a heavy burden on working families. Currently, the Earned Income Tax Credit provides a general safety net, but it doesn't account for the specific high costs of the early childhood years.

If this becomes law, it could significantly reduce child poverty and provide a steady stream of income for families to meet monthly bills. If it doesn't pass, the tax credit will remain at its current levels, which many advocates argue is insufficient for families dealing with the 'diaper and daycare' years.