The U.S. has seen a more than five-fold increase in the number of children who experience the incarceration of a parent, such that now 7% of all U.S. children have been impacted. Parental incarceration has been linked to an array of consequences for children's development and well-being, spanning most developmental domains and all developmental stages. The overarching goal of this report is to briefly summarize the associations between parental incarceration and adverse outcomes across various aspects of child well-being and development (Section I), and to discuss the role of policy (Section II) in both contributing to mass parental incarceration in the U.S. (Section II.A.) and addressing the many impacts of parental incarceration in the U.S. on child well-being and development (Section II.B.). Throughout this report, we acknowledge impacts and additional considerations related to families of color, who are disproportionately affected by incarceration and associated policies.