DENVER – Legislation introduced in Colorado’s General Assembly this week seeks to mitigate Colorado’s child care crisis by creating a new permanent fund for child care assistance for low-income families. SB26-180 is a bipartisan bill sponsored by Sen. Bright, Sen. Marchman, Rep. Garcia, and Rep. Taggart.
In Colorado, child care is both unaffordable and unavailable. Colorado is one of the most expensive states in the nation for child care, and the state does not have enough licensed child care seats to meet the needs of working parents.
These problems can be addressed through public investment. This bill would create a new mechanism for generating revenue to subsidize the cost of child care for the state’s most economically under-resourced families. Eligible entities, such as enterprises, would opt into the program, allowing a portion of the interest generated through their investments to be used to support families in affording child care.
INVESTMENT PERFORMANCE AUTHORITY (SB26-180) provides the state with the ability to raise funds for services during a budget shortfall by:
- Uses a portion of investment returns to restore child care access to priority families and establish a state fund for child care
- Directs funding to economically under-resourced families, serving those with the highest need
- Caps administration costs, maximizing dollars funneled to direct services
“Child care is a public good. Investing in our youngest children sets them up for academic and social success throughout their lifetimes and also gives families the flexibility and peace of mind they need to pursue financial security,” said Dr. Mathangi Subramanian, Director of Early Childhood Policy at the Colorado Children’s Campaign. “This bill provides the economic infrastructure we need to let kids be kids.”
Children who attend high quality child care programs have higher graduation rates, higher earning potential, and better socioemotional outcomes. Providing more parents with the opportunity to work could generate over $2 billion in potential revenue for our state’s economy.
“No family should have to choose between going to work or school and finding safe, quality care for their child. But that’s exactly the impossible situation thousands of Colorado families are facing right now,” said Christina Walker, Senior Director of Policy at Healthier Colorado. “This bill won’t solve the child care crisis overnight, but it will reduce the harm of these freezes for the families who need help the most. And at a moment when Colorado’s budget is under serious strain, it does so without tapping the general fund, making this a lifeline that doesn’t come at the expense of other critical priorities.”
Media contacts:
Alexandra Eliot: alexandra@eliotstrategies.com, Healthier Colorado
Jackie Zubrzycki: Jackie@ColoradoKids.org, Vice President of Communications, Colorado Children’s Campaign
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About the Colorado Children’s Campaign
At the Colorado Children’s Campaign, we use data and research to identify what kids across our state need most, then advocate for policies that strengthen their well-being and help them thrive. Our focus is the whole child, working across Early Childhood, K-12 Education, Health, and Economic Security for the greatest long-term impact.
About Healthier Colorado
Healthier Colorado advocates on behalf of everyday Coloradans to change laws and systems so that everyone has a fair shot at living a healthy life. We work to improve the physical, mental, and social health of Coloradans through lobbying, state legislative campaigns, research, policy development, and advocacy.
