There is a commonly expressed view that America is experiencing market failure in the child care sector. Economists describe market failure as a situation in which a market left on its own fails to allocate resources efficiently and efficiently.
Although child care providers are among the state’s lowest-paid workers, parents still struggle to afford the cost of care. Conversely, if parents want high quality care for their children, the cost is often beyond their financial means.
In 2003, the state legislature recognized this disparity in the child care system by enacting the Oregon Child Care Contribution Tax Credit.
By making a contribution to the program, taxpayers receive an Oregon state tax credit of 50 cents for each dollar contributed.
Proceeds from the credits will be used to create a demonstration project to show how child care can work when adequately funded. By simultaneously addressing quality, affordability and provider compensation, this innovative tax credit program will reveal the true cost of quality child care and help to restore balance in this critical sector of Oregon’s economy Click here to download a PDF version of the Child Care Contribution Tax Credit form
For more information on the Child Care Contribution Tax Credit Click Here
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