Biden Cracks Down on Child Labor: The Kiplinger Letter
The White House has announced steps to combat child labor in the U.S., which reached a two-decade high in 2023.
To help you understand what the Biden administration is doing to combat a growing child labor problem in the U.S., and what we expect to happen in the future, our highly experienced Kiplinger Letter team will keep you abreast of the latest developments and forecasts (Get a free issue of The Kiplinger Letter or subscribe). You'll get all the latest news first by subscribing, but we will publish many (but not all) of the forecasts a few days afterward online. Here’s the latest…
The Biden administration wants to tackle a growing child labor problem. Child labor violations reached a two-decade high in fiscal year 2023. Per data kept by the Labor Department, 5,729 minors were found working in violation of federal law, up from 3,876 last year and 1,163 in 2014. Since 2018, child labor has gone up 69%.
Experts blame a variety of factors for the surge, from the historically tight labor market prompting employers to hire minors to high inflation inflicting more hardship on households. The U.S. has also seen an influx of migrant children from Latin America fleeing violence and poverty, a majority of whom do not have a parent in the U.S.
Uncle Sam is starting to crack down, levying $8 million in penalties on employers for child labor violations in the fiscal year 2023, up 83% from 2022.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The president has asked for an extra $100 million to aid enforcement as part of the White House’s $100 billion-plus supplemental funding request to Congress, but it’s unclear whether the money will survive once the request has been picked over.
Federal labor law prohibits children younger than 14 from working, and all minors from working in industries the Department of Labor deems hazardous.
This forecast first appeared in The Kiplinger Letter, which has been running since 1923 and is a collection of concise weekly forecasts on business and economic trends, as well as what to expect from Washington, to help you understand what’s coming up to make the most of your investments and your money. Subscribe to The Kiplinger Letter.
Related Content
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
-
Why Uber Stock Is Volatile After GM's Cruise Announcement
Uber stock is swinging this week following news that General Motors is restructuring its Cruise unit. Here's what you need to know.
By Joey Solitro Published
-
UnitedHealth Stock Falls as Lawmakers Eye Insurers, PBMs
UnitedHealth stock is continuing to fall Thursday after the introduction of bipartisan legislation targeting PBMs and healthcare giants. Here's what to know.
By Joey Solitro Published
-
Biden's Lame-Duck Agenda
The Letter President Biden rushes to tie up loose ends before Trump takes over.
By Matthew Housiaux Published
-
Could Millions of Taxpayers Be Facing the AMT (Alternative Minimum Tax) in 2025?
Tax Letter Millions of taxpayers could owe the AMT if Congress allows the tax breaks de-fanged in the 2017 Tax Cuts and Jobs Act to expire.
By Joy Taylor Published
-
What Trump Will Do Next
The Letter President-elect Trump begins his second term with a busy regulatory agenda.
By Matthew Housiaux Last updated
-
Tax Changes are on Trump's 2025 To-Do List
The Tax Letter Donald Trump campaigned on lower taxes and, as president, he will push Congress to pass big tax changes next year
By Joy Taylor Published
-
Harris vs. Trump's Tax Wish List: Income Tax, Capital Gains, Estate Tax and More
The Tax Letter Take a comprehensive look at Harris and Trump's tax proposals. We cover income tax rates, tax credits and deductions, capital gains tax, estate tax, corporate tax and much more
By Joy Taylor Published
-
What are Trump's Positions on Capital Gains Taxes?
The Tax Letter Harris and Trump have different views on taxing capital gains. See what Trump said he would do if elected to the White House.
By Joy Taylor Last updated
-
The Key Presidential Campaign Issues of 2024
The Letter Donald Trump and Kamala Harris stake out their positions on trade, immigration, and taxes.
By Matthew Housiaux Published
-
Changes to Estate Tax Are Coming... Six Options Congress Could Take
The Tax Letter An important estate tax change is looming. Here are six ways that Congress might address estate taxes in 2025.
By Joy Taylor Published