A Tech-Friendly Candidate Proposes An Investment Approach To Welfare
Summary: this post describes Maryland gubernatorial candidate Alec Ross’s proposal for an income share agreement child care credit and how it reveals what tech-friendly candidates could bring to policymaking.
A lot of folks in Silicon Valley will be jumping into the 2018 election ring. Everytime I meet with one considering a run, I beg them to enter the race with a novel policy idea. American democracy desperately needs policy ideas fit for the 21st century.
Fortunately, the early tech-friendly candidates are already entering the field with some fascinating ideas.
One new candidate in the field, author and former Clinton tech advisor, Alec Ross, has proposed a rather unique “income share agreement” credit for childcare services. Parents that accept the welfare (up to 50% of childcare costs for eligible families) will pay it back as a fixed percentage of their income.
It’s essentially an equity stake in welfare recipients, and it’s based on similar income share agreements now being piloted in colleges that give lower tuition for a fixed portion of graduate earnings. Ross’s policy is a rather optimistic bet that helping struggling American families can be an economically strategic investment for the state.
Ross believes that the child care equity program could even end up being profitable and then be redistributed in higher amounts.
Some of my older contacts are starting to jump into the field, such as former White House tech advisor, Brian Forde (running for Congress in Southern California). Perhaps Ross will inspire other candidates to propose similar ideas — or, policies with a performance-oriented approach.
Feel free to comment in the section below with ideas or relevant links.
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