VIRGINIA BEACH, Va. — Virginia lawmakers are looking to address the steep cost of childcare families are facing through legislation.
In Virginia, House Bill 407 would give "childcare help" to families that also get money through Medicaid or the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC).
"If we can do a better job funding more affordable child care in this country it will not only help providers, kids, parents, it will help the economy by getting people into the workforce who have skills to offer," said Sen. Tim Kaine.
HB 407 is sitting on the Gov. Glenn Youngkin's desk and has an action deadline of April 8.
According to a recent study from Zillow, the cost of childcare is now higher than the average family mortgage. Researchers found the average family spends 66% of their income on combined payments.
In Virginia Beach, data revealed families spend around $18,000 a year on child care, alone. Meanwhile, the cost of the average mortgage adds up to about $2,000 a month, or $24,000 a year.
Federal health leaders have different budget guidelines on what those costs should run for you.
The U.S. Department of Health and Human Services caps housing costs at 30% of monthly income per household. Child care is only supposed to cost you 7% under these guidelines.