Biden's Chips Act may have broader impact on child care
By Julianna Goldman / Bloomberg Opinion
Childcare is not a topic that tends to come up on quarterly earnings calls. By and large, however, corporate America knows that it has to offer quality and affordable childcare to employees to recruit and retain a competitive and diverse labor force.
But there is a difference between knowing something and doing something about it. Sometimes the private sector needs a nudge from the federal government, which helps explain President Biden’s intervention in the semiconductor industry: The administration announced last month that if semiconductor manufacturers wanted a slice of $40 billion in new subsidies under last year’s Chips Act, they would have to provide access to childcare.
One question is whether this strategy makes sense. Another is whether it is a one-time thing; or the beginning of a larger effort to make the so-called care economy a reality.
A clue to the second question will come from how the administration deals with other contracts and contractors. A 2015 executive order, for example, requires federal contractors to provide seven days of paid sick leave, which has been shown to increase productivity, improve retention and keep other workers from getting sick. In other words, it improves the efficiency of government contracting.
https://www.heraldnet.com/opinion/comment-bidens-chips-act-may-have-broader-impact-on-child-care/
