HOW BUILD BACK BETTER HELPS VA-07
Rep. Abigail Spanberger (VA-07)
- In VA-07, a district with over 55,000 children under age 6, the child care market fails to serve 44% of young children.
- 29% of young children in VA-07 don’t have all available parents in the workforce, while over 50,000 parents make career sacrifices due to issues with child care.
- The average annual cost of infant care in Virginia is $14,063. Contrasted with the median income of $104,390 for a family of four in VA-07, infant care costs as a share of median family income in the district total approximately 13.4%
- The Build Back Better Act will provide universal pre-k to all 3-and 4-year olds, giving all children access to high-quality early education, and will ensure that no working family in VA-07 pays more than 7% of their income on child care.
Child Tax Credit
- In VA-07, approximately 9% of young children live in poverty.
- About 160,000 children in VA-07 qualify for the enhanced Child Tax Credit payments, and a total of 93,000 payments were made to VA-07 families in October.
- The average payment per household across the state of Virginia was $419.
- The Build Back Better Act will extend the fully refundable enhanced Child Tax Credit to provide up to $3,600 per qualified child until 2023.
- The Build Back Better Act could help an estimated 27,000 VA-07 residents save an average $600 per year on health insurance premiums by extending expanded Affordable Care Act premium tax credits.
- Extending the expanded Premium Tax Credits through 2025 could give VA-07 residents an estimated average $956.57 tax cut per tax filer.
- The Build Back Better Act could also lead to expanded Medicare coverage of hearing benefits for up to 149,550 residents in VA-07.
- 12.1% of adults in VA-07 are unable to access care due to cost.
- 9.5% of adults in VA-07 have been diagnosed with diabetes; the Build Back Better Act will lower the price of insulin by placing a $35-per-month cap on the drug.
- 91% of registered voters in VA-07 support allowing Medicare to negotiate lower prescription drug prices.
- The Build Back Better Act will help ensure that drug costs do not increase faster than inflation by allowing Medicare to negotiate lower drug prices.
Earned Income Tax Credit
- The Build Back Better Act will extend the current expanded Earned Income Tax Credit for childless workers of up to $1,502 for one year.
- An estimated 50,000 working families in VA-07 will benefit from the expanded Earned Income Tax Credit.
- VA-07 is already home to 6,119 clean energy jobs, including 650 renewable energy jobs and 4,919 energy efficiency jobs. The Build Back Better Act will bring even more good-paying, green union jobs to VA-07.
- 81% of adults in VA-07 support providing tax rebates for energy-efficient vehicles or solar panels, and 69% believe corporations should do more to address global warming.
- The Build Back Better Act will make historic investments in clean energy technologies, and help middle class families save money transitioning to clean energy electrification.
- VA-07 faces an affordable housing shortage of over 14,314 homes, meanwhile, 22% of all renter households in the district are severely cost-burdened.
- The Build Back Better Act will make the largest investment in history for the construction, rehabilitation, and improvement of affordable housing.
- The Act will also make historic investments in rental and down payment assistance programs.