Thought Leaders: Childcare costs rising more than inflation — 3 things you can do today!
By Christina Taylor —
Childcare costs continue to rise faster than the rate of inflation, according to the Bureau of Labor Statistics. In fact, childcare and preschool costs rose 4.4% in March, compared to the year before, and roughly 36% in the past decade, both of which are greater than the increase in inflation.
What this means for working families is that more parents are opting to leave the workforce or tap into their savings. Mothers who do not have a 4-year degree are even more likely to leave or never enter the workforce. For parents and primary caregivers who opt to stay in the workforce, many need assistance, like from the Colorado Child Care Assistance Program (CCCAP). Unfortunately, Larimer County is now limiting new CCCAP enrollments due to the cessation of emergency federal funds from the pandemic, exacerbating the childcare crisis, especially for families living at or below the poverty level. Historically, freezes or limitations in CCCAP enrollment have led to increased applications for childcare assistance through nonprofit programs like the Larimer County Child Care Fund. However, the nonprofit sector alone cannot meet this growing need.
To address these pressing challenges, we urgently require a sustainable funding solution unique to Larimer County. Current federal, state, and local funding falls short. We must collaborate across public, private, and philanthropic sectors to bolster comprehensive early childhood services.
Here’s how you can take action today to bridge the childcare affordability and accessibility gap:
- Support Childcare Scholarships and Expansion: Contribute to the Larimer Child Care Fund . Your donation directly funds childcare scholarships for families, so they do not spend more than 15% of their income on child care. Colorado taxpayers who donate $250 or more to the fund can claim a 50% income tax credit through the Colorado Child Care Contribution Tax Credit. Donate: https://tinyurl.com/mryx6cum
- Join the Conversation: Sign up for Larimer Thrive by Five’s newsletter to delve deeper into this critical issue. Learn about local strategies and join us in shaping lasting solutions for our community’s childcare needs. Together, we can create a brighter future for families.
- Attend and Learn: Fort Collins Area Chamber of Commerce, Early Childhood Council of Larimer County, and United Way of Larimer County will host Elliot Haspel as a keynote speaker for a lunch n’ learn, “Every Employee Depends On Someone Who Depends On Childcare: How Business Can Play a Role In Solving the Childcare Crisis In Larimer County.” The event is from 11:30am-1pm on Tuesday, June 11 at the Fort Collins Area Chamber of Commerce (225 S. Meldrum Street, Fort Collins). Elliot is a nationally-recognized child and family policy expert and commentator, with specialties in early childhood and education issues, as well as the linkage between climate change and early childhood. Joy Sullivan, President and CEO of United Way of Larimer County, and myself will also share insights. Registration is free and includes lunch. Attend:
https://tinyurl.com/2k5rhrvy
If you want to learn more about the need and options for solving our childcare crisis, contact your local early childhood council or follow LarimerThrivebyFive.org.