WASHINGTON – In a recent development, the U.S. Department of the Treasury and the White House came together to facilitate a discussion aimed at enhancing access to affordable, high-quality child care. The focus of the convening was on fostering collaboration between small childcare businesses, Community Development Financial Institutions (CDFIs), and key stakeholders.
The event witnessed the participation of various notable figures, including Director of the Gender Policy Council Jennifer Klein and Domestic Policy Advisor Neera Tanden. Deputy Assistant Secretary for Community and Economic Development Noel Poyo addressed the role of CDFIs in supporting childcare businesses and fostering community development, while Deputy Assistant Secretary for Consumer Policy Suzanna Fritzberg also shared insights during the discussion.
Testimonies from childcare providers further shed light on the challenges and opportunities faced by small center- and home-based child care businesses, particularly those owned by women of color. The gathering also included a panel discussion among CDFIs, emphasizing potential partnership opportunities in the sector.
The convening was organized in line with Executive Order 14095, which mandated the Treasury to share industry best practices with CDFIs to facilitate capital flows and support to care providers. The Treasury's proactive stance in promoting access to affordable child care during the Biden-Harris Administration was highlighted, including initiatives such as funding through pandemic recovery programs and the release of a comprehensive 2021 report on the economics of childcare.
