Father Jason Ferreira: $100 doesn't get you much

Soaring childcare costs are crushing parents nationwide. In fact, a new report shows that having more than one kid is actually pricier than rent in every single state. I went out to the Bronx to speak to in home daycare providers about how they have been coping. I felt right through the cracks. I immediately didn't have any assistance. Childcare costs have surged since the pandemic. Average monthly payments for childcare are up 32% since 2019. Experts say there was always a shortage, but the pandemic really brought to light how strapped this industry really was. And those who managed to stay afloat are now struggling with rising cost of everything around them. What cost specifically have risen the most? The cost of rate insurance have gone up. Everything has gone up. This child care affordability crisis means that the average household is spending 24% of their income on child care. 47% of families last year spend at least $18,000 on child care, and there are a dozen states where child care cost more than rent. But still, some are hopeful that the election will change things. Parental choice is very important. You take away one. Like I say, you can't take away centers you don't want. We don't want anybody to close their center. And it's a bipartisan issue and an issue that child care providers are hopeful that both sides of the aisle can get behind. This is not Republican or Democrat issue. This is a nation issue and it should be addressed as a nation issue. So how are parents coping with soaring child care costs throughout the country? I've got a great panel of parents and child care providers joining us now. I'm pleased to say Doris Family daycare director Doris Irizarry, ECE on the move CEO. Oh, she need a Bowen, father of one and Main Street Alliance executive director Richard Trent and father of five and grocery store owner Jason Ferreira. Great to have you all with me. First, Jason, I want to start with you. Your children are 28 years old and your youngest is 16 months. Yes. How have your costs changed over those years? Oh, where do I start? I mean, over the years, just the cost of clothing, for example, which, you know, you don't think about all the time, but as a parent you do. And the way that children grow so fast. I mean, I remember when my oldest, you know, $100 went a long way and now, you know, $100 doesn't get you much. So that's, that's, that's been a big one for us. Food costs have been a lot higher now than they were before. And, you know, we've been fortunate enough where my wife has been a stay at home mom, but we talked to a lot of our friends that both parents work and they have to do the same thing where they're there. One of them has to stay home because it's it's just so expensive to get childcare. Richard, I want to have come to you because you're raising a child. A new one may be on the way in August. We're hopeful for you, but you're also part of an alliance that helps small businesses. What are those small businesses saying as you're trying to help that and also work on your family as well? Yeah. So from the the the parent angle, I always start from the parent angle. I'm noticing the expensive snacks right when my kid doesn't finish his $4.00 mozzarella cheese stick. I'm like, somebody's going to finish that. But. But when I'm not my son's personal chef, I the head of Main Street Alliance, which is a membership network of small business owners, entrepreneurs who are all who all understand that passing common sense legislation from Main Street means getting in front of elected officials and really reminding them who it is they're accountable to. What we're hearing from our entrepreneurs is that the skyrocketing cost of child care and a lack of protections for workers, like a lack of paid leave are driving employee turnover. Every small business owner has to face the the expensive costs associated with replacing a valued employee. But what we're seeing, especially in spaces like childcare, one in four childcare workers that are working at a childcare facility today will not be working there a year from now. So with turnover rates like that, you have to expect that operating costs for daycare centers are going to be super high and that gets passed on to consumers. So great segue because Doris, that's where I want to come to you because you operate one of these in home daycare centers. What do parents tell you when they drop their child off is one of the biggest concerns that they have Child care, the child care course. And I don't even charge half as much as you. If you go to Riverdale or someplace else, you pay 3200 for an infant. We're making $65 a day. And it doesn't, it doesn't make it. And I feel bad for these parents because they have to choose between child care, paying different or putting food on the table. And that's not a choice for parents to be able to make. She needed. You're one of those, the turnover that he just described. You lost your business during the pandemic, right? You're one of those who fell through the cracks. That's right. How did that happen? Yes. So at that time, at the beginning of the pandemic, systems were not in place with the state and the city was not prepared to help providers. No one was there for us, but we picked up the mantle. You know, you see on the move represents 600 family childcare providers and we were working, we worked. I want to end on a note that we can sort of all get behind of hope policy change. Jason, what is one thing that you would like to see that would be helpful to help make ends meet with five kids? I mean, look, I think that just inflation in general, the, the, the cost of everything is so high. I, I just hope that policies are made that will help prices come back down and some, some of these expenses come back down because it's unbearable right now. Yeah. What's a good policy change that you think would work well? I mean, I think that we need to stop talking about things like child care and paid leave as strictly like a women's issue or like this is an issue of the competitiveness of the United States and the global economy, right? We've got parents leaving the workforce in droves because, as you said, it's more expensive to pay for childcare than to just have folks stay at home. That's sad. And things like, you know, Senator Patty Murray's FAMILY Act is a good start for providing basic protections. Our care economy, 12 weeks of paid leave for most Americans. And but you know, President Biden mentioned in his in in his 2025 budget proposal, a billionaire tax that could fund things like affordable childcare for for low income families. We want to see bold policy proposals like that, that that really strengthen the American economy and uplift small business owners said it is an economic issue that it comes down to. And I know you guys have lots of policies that we'll get to another time and we'll get it in that package as well. Really appreciate both of you, both of you as well, all of you, Doris, Shenita, Richard, Jason. Thank you all so much.