Rep. Cisneros Champions Legislation to Stop Private Equity From Blocking Access To Childcare

WASHINGTON - Today, Congressman Gil Cisneros (CA-31) joined Congressman Josh Riley (NY-19) to introduce the Protecting Childcare from Private Equity Act alongside Congressman Greg Casar (TX-35), Congresswoman April McClain Delaney (MD-06), Congressman Suhas Subramanyam (VA-10), and Congressman Eugene Vindman (VA-07). This legislation implements significant guardrails to protect access to local affordable childcare options and stop private equity from implementing harmful changes that restrict providers.

Private equity currently controls 8 of the 10 largest for-profit childcare chains in America. Corporate accountability of these chains falls concerningly short. Supervision is critical to ensure American families can continue to access affordable childcare options without being priced out. This bill strengthens oversight to ensure private firms responsibly run childcare providers and do not indiscriminately raise prices for our hardworking families.

"Taking care of our children is investing in their future. I'm proud to champion childcare that strengthens our communities and lifts the burden of care off parents' shoulders," said Congressman Cisneros. "As a father, I will always support essential guardrails that protect access to childcare. I am proud to co-lead the Protecting Childcare from Private Equity Act with Rep. Riley to prevent private firms from harming access to childcare. This legislation is a critical step towards corporate transparency and accountability. No private equity firm should restrict families' access to the quality care they rely on."

"Wall Street investors don't care about the bills hitting our kitchen tables or the number of preschool slots open to Upstate New York families - all they care about is profit for their shareholders. We can't let them swoop into our communities, buy up daycares, and squeeze families for every dollar they can get," said Congressman Riley. "This is about creating guardrails to stop predatory investors from pricing out families, and making sure every parent has access to local, high-quality childcare they can actually afford."

Full text of the bill can be found here.

Rep. Cisneros is a Navy Veteran and the former Under Secretary of Defense for Personnel and Readiness. He currently serves on the House Armed Services Committee, Subcommittee on Military Personnel, and Subcommittee on Intelligence and Special Operations. Rep. Cisneros is a member of the Congressional Hispanic Caucus and serves on its leadership team as the Freshman Representative.

###