As a parent of two young children, I personally find the cost of childcare a significant and ongoing financial challenge in my life. Like me, millions of other parents also struggle to balance the high costs of daycare and the obligation to provide for their families. A major tool that aids this financial balancing act is the Dependent Care Flexible Spending Account (FSA).

Currently, the maximum amount that parents can contribute to a Dependent Care FSA is $5,000. This limit, under Section 129 of the U.S. Internal Revenue Code, has not been adjusted for inflation or the rising costs of childcare since its conception in 1986. However, the average cost of childcare in the U.S. today is about $11,000 per child per year (Childcare Aware of America, 2020). Clearly, the $5,000 allowance is barely enough to cover even half of these costs for one child, let alone for those families, like mine, with more than one child.

Moreover, this method of vital financial assistance is tied to employers, limiting its accessibility for many individuals. Having the freedom to open Dependent Care FSAs independently would democratize this resource, making it available to even more families in need.

Therefore, this petition proposes a reevaluation and amendment of the current Dependents Care FSA regulations. We ask for two significant changes: firstly, an increase in the maximum allowable contribution to $15,000 to more adequately reflect the present-day costs of childcare, and secondly, to detach the Dependents Care FSA from employer ties, allowing all private citizens to open these accounts on their own behalf.

By signing this petition, you are advocating for millions of families who are desperately trying to afford quality childcare for their children. Let us lift this financial burden off of their shoulders, one policy change at a time. Please, sign this petition.