Texas State Legislators and Business Leaders Discuss the Economic Impact of Texas’ Child Care Crisis
The infant-toddler child care crisis could cost families, businesses, and taxpayers in Texas $11.4 billion each year
AUSTIN, TX- Today, ReadyNation Texas released a new report detailing the staggering economic impact of Texas’s infant-toddler child care crisis. The new report reveals Texas’ massive, growing economic loss of an estimated $11.4 billion per year caused by the lack of availability of child care for infants and toddlers alone. This economic toll on parents, businesses, and taxpayers more than doubled since the last report was released in 2018.
The report reveals that the main contributors to this increased impact were COVID and insufficient policy action. The child care industry was decimated by COVID, with providers closing, many temporarily and a significant number permanently. The child care industry was already very fragile pre-pandemic; the situation is far worse now and it is costing our economy billions every year. Fortunately, there are solutions, which will be discussed at the event.
Speaking at the event was Texas State Representative Armando Walle, Ready Nation members Katie Ferrier, VP of Education & Workforce Development with the San Antonio Chamber of Commerce and Jason Schenker, President of Prestige Economics and Chairman of The Futurist Institute, Stephanie Rubin, CEO of Texans Care for Children, Brianna Menard, Executive Director of the Texas House Early Childhood Caucus, and Kolby Monnig, State Director of Ready Nation Texas.
“Child care is not merely a convenience for working parents; it is a cornerstone of economic stability and an investment in our future workforce,” said Texas State Representative Armando Walle. “I’m honored to join ReadyNation Texas today to bring awareness to the issues the hardworking families and businesses in Texas are facing. I am thrilled with the work that ReadyNation and their partners are doing to bring early childhood initiatives front of mind to myself and my colleagues.”
“One of the reasons I joined ReadyNation is because the business leaders that make up the organization, myself included, understand that expanded access to affordable, high-quality child care is a vital tool for recruiting and retaining working parents, while setting up our next generation to succeed, and even exceed our current success. There will be no full economic recovery from the pandemic if the child care industry remains inadequate. The long-term well-being of Texas depends on an early care system that works for all families,” said Katie Ferrier, VP of Education & Workforce Development with the San Antonio Chamber of Commerce.
“As ReadyNation data from the past four years shows, a failure to strengthen the country’s fragile child care infrastructure will hinder growth and opportunity, while also adding costs for employers, workers, and taxpayers. State and federal policymakers must support evidence-based policies and programs that enhance the availability and affordability of high-quality child care,” said Jason Schenker, President of Prestige Economics and Chairman of The Futurist Institute.
“We need the Legislature to make high-quality child care a priority next session,” said Stephanie Rubin, CEO of Texans Care for Children. “Businesses, families, providers and community leaders are watching. I remain hopeful that the tides are shifting. The struggle to find affordable, quality child care is an issue across the state, in every county, and one that affects all of us.”
“Addressing the child care crisis is not only an economic imperative. It’s also a social one. When we have a generation growing up without access to the care they need to have strong academic and social foundations, we rob kids of the potential to contribute to society by living fulfilling, successful lives. We can’t build a strong Texas without child care,” said Brianna Menard, Executive Director of the Texas House Early Childhood Caucus.
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