South Korea is investing in its families to boost a low birth rate — and the United States should do the same.
The U.S. ally announced that it “will pay 1 million won ($770) a month to households that have an infant under a year old, and 500,000 ($385) won to those with babies aged between 1 and under 2,” as reported by the Korea Times. “The amount has increased from the 700,000 won and 350,000 won, respectively, paid in 2023 when the policy was introduced first.” South Korea will also pay approximately $1,500 for each child born to help offset the cost of childbirth. Bonuses increase with each child.
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Why such significant action?
Well, because South Korea currently has a birthrate of just 0.8 births per woman. The United States is double that, but still at a low 1.7 births per woman, according to the World Bank. In turn, the U.S. should look to better support families with children through policies. The intent shouldn’t be simply to boost birth rates in the short term but to create a pro-family culture for the long term.
Some married couples don’t want to have more children, but those who do have them should be supported. Our policies should promote marriage and childbearing. The per-child tax credit can be increased to reward families that have more children, for example. It’s an idea that both Democrats and Republicans support. Other proposals include starting the tax credit once a woman is pregnant, to help offset the cost of childbirth.
Policies such as expanded school choice vouchers would support families further by letting them choose the school that works best for their children. That does not mean just private schools, but also homeschooling, hybrid models, and charter schools. School choice also can push public schools to improve under new competition, improving educational opportunities for all types of learners.
Then there’s childcare. Daycare has its own problems and is not a silver bullet for families. The ideal situation is that of children being at home with their mothers for at least the early years, according to experts such as Erica Komisar. All parents should also be allowed to set aside money pretax, in the same way a health savings account works, to pay for any form of childcare. That would also allow mothers who want or need to work to do so from home while having their children nearby.
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Indeed, dependent care flexible savings accounts offer this benefit, but they also illustrate another way policies work against some families. These programs are only available through employers, so self-employed people and small business employees cannot access them. Of course, a self-employed person has just as much need for babysitting help as someone who works for a large corporation.
Families are the lifeline of a country, and children are the literal future. Our policies should encourage families and childbearing.
Matt Lamb is a contributor to the Washington Examiner’s Beltway Confidential blog. He is an associate editor for the College Fix and has previously worked for Students for Life of America and Turning Point USA.
