Good morning, Broadsheet readers! We meet some of the most fascinating women in food and drink, California’s governor vetoes legislation that would flush the “tampon tax,” and Trump talks childcare. Have a wonderful Wednesday.
• Childcare, Trump style. Donald Trump is reaching out to female voters, this time with a proposal for federal subsidies for childcare. Trump proposes to do three main things:
- Allow eligible taxpayers to deduct childcare expenses up to an amount equal to the average cost of care in their state. The deduction wouldn’t be available to individuals earning more than $250,000 or couples earning $500,000.
- Provide six weeks of partially paid maternity leave to mothers whose employers don’t currently offer it.
- Give a tax break to anyone who sets aside part of their income to cover costs associated with childcare and eldercare. The campaign estimates that middle-class families could receive a $1,200 tax break.
The plan is—as is typical of most things Trump—a deviation from the stance of many in his party: The Wall Street Journal notes that the House GOP tax plan makes no mention of childcare. Trump credits daughter Ivanka for the policy, telling an Iowa rally, “She is the one that has been pushing so hard for it.”
The campaign estimates the program would cost about $2.5 billion a year, but said it would pay for that by ridding the unemployment insurance system of fraud, which it valued at $3.4 billion.
For comparison: Hillary Clinton plans to cap the cost of child care at no more than 10% of a family’s income, guarantee 12 weeks of paid family leave for moms and dads, and provide universal pre-K for 4-year olds. She would fund that pledge by imposing higher taxes on the rich.
Though many questions remain about both candidates’ plans, it’s good to see affordable childcare becoming a key campaign issue.
ALSO IN THE HEADLINES
• The power of food. Fortune’s Most Innovative Women in Food and Drink list—a collabo with our sister pub Food & Wine—dropped this morning, and features women who have had the biggest impact this year on what and how we eat. The ranking includes Kroger’s Monica Garnes and Whole Food’s Christina Minardi, as well as women operating on a smaller scale, such as Kentucky’s first female distiller in decades. Fortune
• GE’s future whisperer. GE vice chair Beth Comstock, No. 48 on our list of the Most Powerful Women, has a confounding portfolio of responsibilities: She oversees marketing, sales, and comms, as well as lighting, GE Ventures and Licensing (which invests in startups), and “building out GE as a service.” What ties it all together? Her ability “to see the future and help GE’s businesses figure out what it means for them.” Fortune
• He’s making how much?! A new analysis by the left-leaning think tank Center for American Progress finds that, among college graduates of four-year U.S. universities, men with two years of work experience are out-earning women with six. Fortune
• IBM gets a CMO. IBM has named Michelle Peluso, former CEO of Gilt Groupe, as its first-ever chief marketing officer. Peluso was most recently a venture partner at Technology Crossover Ventures and once led marketing for Citigroup. Fortune
• How to lose lady votes. Citing budget concerns, California Gov. Jerry Brown, a Democrat, vetoed legislation that would have exempted menstrual products and diapers from state sales tax. Huffington Post
MOVERS AND SHAKERS: Heather Zynczak has been named CMO of online learning company Pluralsight. She previously held the same position at Domo. A.J. Delgado, a Cuban-American attorney from Miami, has joined Donald Trump’s campaign as a senior adviser.
IN CASE YOU MISSED IT
• Salesforce steps up. Salesforce CEO Marc Benioff says the company plans to announce a chief equality officer next week. Fortune
• A bad bake. After news broke that The Great British Bake Off—a cultural phenomenon in the UK and one of my personal obsessions—is moving from the BBC to Channel 4, co-hosts Mel Giedroyc and Sue Perkins shocked fans by announcing that they will be leaving the show. For anyone who doesn’t get what all the fuss is about, Eater has a great explainer: Eater
• 3 out of 7 ain’t bad. This story speculates about how the style and substance of geopolitics might change if Hillary Clinton wins the American presidency, joining Germany’s Angela Merkel of Germany and Britain’s Theresa May as the G7’s third woman leader. Harvard Business Review
• Pharma fat cats? EpiPen maker Mylan, led by CEO and MPW Heather Bresch, had the second-highest executive compensation among all U.S. drug and biotech firms over the past five years, paying its top five managers a total of nearly $300 million. WSJ
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ON MY RADAR
Katie Couric faces defamation lawsuit over documentary Fortune
Misty Snow hopes to make history as the first transgender woman elected to the U.S. Senate Glamour
Saturday Night Live adds its first Latina cast member Motto
Margot Lee Shetterly wants to tell more black stories New York Times
In 2000, when I was standing down in Florida at the recount watching through the glass window people looking at hanging chads, I thought it could never get weirder than this ... Well, I think we just matched it. I have no prediction on this.Former Fox News host Greta Van Susteren