CED Testifies Before Congress on Child Care's Economic Impact

NEW YORK, April 11, 2024 /PRNewswire/ -- The Committee for Economic Development (CED), the public policy center of The Conference Board, testified before Congress earlier this week. The testimony was given by Cindy Cisneros, Vice President of Education Programs at CED, who spoke about CED's findings and recommendations from its report, Child Care in State Economies, addressing issues related to the accessibility and affordability of quality child care.

The hearing, "The Role of Child Care Small Businesses in Supporting Parents and the American Workforce," was held by the Senate Committee on Small Business and Entrepreneurship.

Read the full testimony here and watch the hearing here. Among the highlights:

• From CED's perspective, access to quality, affordable child care is a two-generation strategy. It helps fuel economic growth and vitality throughout states and communities by supporting employees so that the workforce is productive and businesses thrive. It also promotes a safe environment for children while parents work and in a setting that promotes their healthy development.
  
  
• Our business leaders know that a skilled workforce is essential to economic stability and prosperity. CED's research supports the view that for the U.S. to ensure its competitive edge, it is critical that the nation increase the number of students who graduate high school ready for college or careers.
  
  
• The supply of child care and the cost are challenges for families. The economic model for child care makes it difficult for home-based providers to stay in the business and for child care centers to hire and retain high-quality staff, which also impacts choices for parents. Solutions exist. While there is no easy way to make quality child care more available and affordable, there are a variety of approaches to address child care supply and cost.

About The Conference Board
The Conference Board is the member-driven think tank that delivers Trusted Insights for What's Aheadtm. Founded in 1916, we are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. ConferenceBoard.org

The Committee for Economic Development (CED) is the public policy center of The Conference Board. The nonprofit, nonpartisan, business-led organization delivers well-researched analysis and reasoned solutions in the nation's interest. CED Trustees are chief executive officers and key executives of leading US companies who bring their unique experience to address today's pressing policy issues. Collectively, they represent 30+ industries and over 4 million employees. ConferenceBoard.org/us/Committee-Economic-Development

SOURCE Committee for Economic Development of The Conference Board (CED)