The Trump administration on Friday said it would cancel a rule mandating pay increases for teachers in Head Start, the federally funded early education program that serves more than 700,000 of the nation's neediest preschoolers every year.

The move will undo a requirement that large Head Start programs gradually increase pay for teachers, so they would reach parity with their local public preschool teachers.

The rule, created under Democratic President Joe Biden, also called for expanding employee benefits and would have cost around $2. 1 billion annually by 2031.