Trump: Allows parents to fully deduct childcare from taxes - WNEM TV 5

Trump: Allows parents to fully deduct childcare from taxes

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SAGINAW, MI (WNEM) -

Donald Trump has a plan to reduce the cost of childcare that has a lot of parents talking.

"My plan will also help reduce the cost of childcare by allowing parents to fully deduct the average cost of childcare spending from their taxes," Trump said during his speech in Detroit on Monday.

He outlined his economic plan which included a proposal allowing families to deduct the costs of childcare.

"We will also be rolling out proposals to increase choice and reduce costs in childcare, offering much needed relief to American families. They're suffering," Trump said.

In several states, the cost of childcare is more expensive than rent or college. Many parents said that needs to change.

"It's a lot of money," Lisa Mellor said.

She is a working mom and she said childcare for her kids is expensive.

"Last year it was almost $8,000," Mellor said.

Some families are paying even more. According to the National Association of Childcare Resource and Referral Agencies, the average cost of daycare in the U.S. is $11,666 per year, or $972 a month.

Parents can deduct up to $6,000 for childcare expenses from their federal income taxes. Trump said he would do away with that limit.

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