Investing in Childcare Benefits Everyone
WREN aims to meet the fundamental needs of women and girls, and high-quality, affordable childcare is vital for women to participate fully in the workforce. This is why we support Senate Bill 47 which provides an increased tax credit for individuals working in childcare and for employers who provide childcare services. We want to make childcare more accessible and create economic stability for women.
The childcare crisis isn’t just a family issue; it affects our entire economy. Our strategic partners on this legislation at the Charleston Metro Chamber of Commerce and Upstate Chamber Coalition agree.
Expanding the accessibility and affordability of childcare is essential for improving the economy and supporting the workforce of today and the future. Investing in childcare solutions benefits businesses by creating a more stable and productive workforce, while also helping develop a stronger future labor force.
In South Carolina, the childcare crisis costs us $1.4 billion annually. With only 56.4% of eligible adults working or actively seeking employment in 2022, South Carolina’s labor force participation rate is one of the lowest in the nation. A significant barrier to workforce participation is the lack of accessible and affordable childcare, as highlighted by the SC Labor Force Participation Task Force Survey.
Childcare providers in South Carolina are also facing a critical staffing shortage that is undermining both the availability and quality of care. Centers must meet state staffing requirements to ensure child safety and development, but without sufficient staff, they cannot operate at full capacity. Providers are often forced to turn away children to comply with regulations. The high turnover of early care workers further destabilizes childcare centers, resulting in inconsistent care that negatively impacts children’s developmental outcomes.
Senate Bill 47 is crucial to addressing the workforce participation crisis in South Carolina, where lack of childcare and the need to stay home with children are significant barriers to employment.
The increased tax credit for businesses will incentivize more employers to invest in childcare programs, making it easier for working parents to remain in the workforce. Additionally, the new tax credit for childcare workers will help improve compensation, reduce turnover, and strengthen the childcare sector, which is essential for providing high-quality care to families across the state.
You can help advocate for this critical legislation here: https://p2a.co/cw4ypha
Co-authored by:
Women’s Rights and Empowerment Network SC
Matt Wills, Director, Upstate Chamber Coalition / VP Government Affairs, Greenville Chamber of
Commerce
Bailey Vincett, Director of Government Affairs, Charleston Metro Chamber of Commerce