HOUSTON – A report states that the price of raising children has increased significantly, and it is affecting parents’ decisions.
Brookings Institute, a nonprofit organization based in Washington, D.C., said in their report that it now costs $310,000 for a married, middle-class couple with two children to raise their children from birth to high school. That is $26,011 more compared to
The report also cited the COVID-19 pandemic and the rise in costs as possible culprits that motivated parents’ decisions.
The number of births have dropped significantly to its lowest level since 1979, according to the report.
For prospective parents, 44% said in a recent survey from Pew Research Center that they are unlikely to have children--and if they decide to, the survey stated that they would make trade-offs such as moving to less expensive areas, working longer hours, among several factors.
Congress passed the Inflation Reduction Act which did not include direct support for new parents, according to Brookings Institute.