Over 100 Economists Urge U.S. Congress to Invest in Child Care
Billions in economic growth is at stake, economists and public policy scholars say in an open letter.
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More than 125 economists and public policy scholars signed a letter calling on U.S. Congress to support investments in affordable child care for American families.
“For decades, American families and in turn economic growth have been held back by the lack of modern care infrastructure, as working families have been forced to choose between work and caregiving, hampering female labor force participation and reducing productivity,” reads the letter, published Tuesday by the Center for American Progress, a left-leaning think tank. “Congress must seize this opportunity to finally support families and unleash economic growth.”
On Wednesday, the U.S. Treasury Department released a report finding that the high cost of child care and lack of availability for many working parents is hampering economic growth. One study from the Council for a Strong America in 2018 found that the child-care crisis is costing the U.S. an estimated $57 billion a year. The pandemic has only exacerbated the issue, forcing many day-care centers to close. Those that survived are now dealing with staffing shortages, further constraining supply and pushing up prices. Meanwhile, millions of women still can’t get back to work.