Approximately 40% of child care centers are likely to close without additional support due to financial strains caused by the COVID-19 pandemic, and half of them are owned by people of color.[5] Access to quality child care is critical for working families, and the loss of child care capacity will have a serious impact on the nation's economic recovery and household incomes. The Business Roundtable is calling on Congress to provide additional funding in the next phase of COVID-19 relief to help child care providers reopen or remain open during the public health crisis.
Low-income single parents who earn 50 percent of the national average wage must spend 52 percent of their income on average child care services. Childcare costs hit black households especially hard, as they are more likely to live in poverty. Business Roundtable is seeking additional funding from Congress in the form of Child Care Development Block Grants to help states provide high-quality, affordable child care.
Research shows that high-quality preschool programs can close the achievement gap and reduce high school dropout rates among underserved students.[6] The Business Roundtable supports increased investment in quality preschool and expanded preschool for low-income families.
In the midst of the COVID-19 pandemic, K-12 schools are struggling to deliver on their promise to provide quality education while keeping school communities safe. .[7] Business Roundtable supports additional funding from Congress to help K-12 schools reopen safely and provide effective online education.
In the most recent National Assessment of Educational Progress (NAEP), 82 percent of black fourth graders and 79 percent of Latino fourth graders scored below the proficient reading level, compared to 55 percent of white fourth graders. [8] The Business Roundtable supports targeted federal funding for early literacy programs.
