New Fed Data Shows Chamber Opposition to Biden’s Childcare-Friendly Recovery Policies Stands in Way of Nation’s Economic Recovery
Washington, D.C. — Today, the U.S. Chamber of Commerce is holding its “Global Forum On Economic Recovery,” a policy forum centered on the international recovery from COVID-19, while at the same time it aggressively lobbies for policies that hold the economy back. The Chamber has recently and baselessly blamed the $300 federal enhanced unemployment benefit for slower-than-expected job growth. But new data from the Federal Reserve this week shows that a lack of accessible childcare — a policy the Chamber has long advocated against — is a crucial factor holding Americans back from rejoining the workforce.
The Fed’s findings show that over 20% of U.S. parents were not working or had to work fewer hours in 2020 due to COVID-19’s impact on childcare and schooling, and that women — and Black and Hispanic women in particular — faced severe adverse effects. Despite this, the Chamber has consistently fought the Biden administration’s recovery plans, which heavily emphasize childcare, and the tax increases that will fund them.
“It’s clear from the latest Fed data that families’ lack of access to affordable childcare is a key reason they aren’t returning to work,” said Kyle Herrig, president of Accountable.US. “But rather than face reality, the Chamber has opted to oppose President Biden’s recovery plans and blame slower job growth on the same unemployment benefits that have kept countless families’ heads above water through the public health crisis. If the Chamber is serious about the nation’s economic recovery, it should get behind Biden’s recovery plans that will actually serve workers and families — not just wealthy corporations.”
For more on the Chamber’s history of advocating against accessible childcare and other policies supporting workers, see Accountable.US’ latest analysis.
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