Hochul announces $500M initiative to expand child care in NY

NEW YORK - New Yorkers aren't the most agreeable bunch, but if there's one thing you can find consensus on, it's that raising a child in the city isn't cheap.

Three of the five boroughs are the most expensive places for childcare in the nation, and according to statistics from the Department of Labor, families in the Bronx spend almost 47% of their income on childcare, with families in Brooklyn and Queens spending 31% and 27%, respectively. 

To help combat this issue, Governor Kathy Hochul has announced a plan she says will bring much-needed relief to working parents in the state. Her 2024 budget includes expanding a state tax credit to include children under the age of four.

"You think about the cost of child care. It is the most expensive item on that bill that monthly bill, more than people's rent, more than their mortgage payment many times. The average cost is about $15,000 per year," Hochul said.

Another major problem is attracting daycare workers to an industry with minimal salaries. To tackle that issue, the Governor has announced a $500M investment to help daycare centers pay bonuses.

"This is a retention bonus," Hochul said. "$2-$3,000 to help supplement their income but also supplement recruitment and sign-on bonuses for new employees."  

But New York City Council Member Jennifer Gutierrez doesn't believe that's enough to make a serious difference. 

"I think it's exciting to have the Governor of New York talk about child care, but I don't think that is enough to make a whole announcement over," Gutierrez said. "When you're talking about this industry that is predominantly comprised of women and women of color.  From the first female Governor, I think we can do better."

Gutierrez is co-sponsoring a bill in the City Council calling for free child care in the city for every child up to five years old.