On Wednesday night, March 25th, the U.S. Senate passed the Coronavirus Aid, Relief and Economic Security Act – or CARES Act, to help stabilize the child care industry. According to the First Five Years Fund, the legislation includes relief for the nation’s child care community.
- $3.5 billion in grants to states through the Child Care and Development Block Grant (CCDBG) Program for immediate assistance to child care providers to prevent them from going out of business and to otherwise support child care for families, including for healthcare workers, first responders, and others playing critical roles during this crisis.
- $750 million for grants to all Head Start programs to help them respond to coronavirus-related needs of children and families, including making up for lost learning time.
- Both for-profit & non-profit child care businesses with less than 500 employees will be eligible to apply for small business loans of up to $10 million, of which 8 weeks of monthly payroll, mortgage/rent, and utility payments will be eligible for forgiveness.
- And more.
Details about the support made available in the bill, which now heads to the House for final passage before being signed into law, are available from the First Five Years Fund here.