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Kathy Hochul: "Biden is Right. Investing in Child Care Makes Business Sense."

From Bloomberg Law, March 10, 2023

"New York governor Kathy Hochul responds to President Joe Biden’s announcement that businesses seeking federal CHIPS and Science Act subsidies must provide child care. She supports the move, and describes New York’s initiatives that diversify child care opportunities for working families.

Thirty-four years ago, I never dreamed I’d have to quit my job due to a lack of affordable child care. But I did, and sadly, that’s still the reality for many working parents today. As the first mother to lead New York state as governor, this issue is personal for me. Over three decades ago, I had a job working for former US Senator Daniel Patrick Moynihan. But like so many young professionals wanting to start a family, I struggled to find child care and, eventually, made the tough decision to leave my job. My story is not the only one.

For too long, child care has been relegated as the family’s—or usually the mother’s—concern. As the pandemic, inflation, and other factors drive up everyday costs like housing and gas prices, the rising cost of child care is putting an enormous strain on families in New York and across the country.

Parents are leaving the workforce in droves due to a lack of affordable child care. Women are quitting their jobs at disproportionately high rates.

The pandemic helped change the conversation, showing that child care is a smart investment for businesses that raises productivity, quality of life and retention among employees. Child care is now being seen as an essential service for employees.

Here in New York, we are already working ahead of the curve to find creative solutions, bringing businesses to the table to expand child-care options for working families. We are also seeing welcome momentum at the federal level.

Recently, President Joe Biden and the Department of Commerce announced that businesses receiving subsidies through the federal CHIPS and Science Act will need to provide quality, affordable child care to their workers. This is a welcome announcement, and will ensure that companies at the cutting-edge of technology and driving our economy will have a federal incentive to support working parents."

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