The pandemic exposed just how broken the country’s child care system is: It costs parents too much and pays employees too little. More than half of the country’s residents live in a child care desert.

A recent report by ReadyNation, a coalition of business leaders, reveals the impact of those fissures on the nation’s economy – including individual taxpayers. 

According to the report, insufficient care for children under 3 depletes the country of $122 billion each year in lost earnings, productivity and revenue. That’s more than double the $57 billion in losses in 2018, the analysis found. 

“The nation’s economy rests on the shoulders of early care and education teachers, and the system that they’re in is on the brink of collapse,” said Allyx Schiavone, a prominent early-childhood education advocate from Connecticut, at an event Tuesday meant to reiterate calls for greater federal investment in child care ahead of Tuesday’s State of the Union.  

“When parents can’t find child care, they can’t work. It’s really simple,” continued Schiavone, who will be the guest of Rep. Rosa DeLauro of Connecticut at President Joe Biden’s address. “And when they can’t work, families and businesses suffer. Building a better child care system is the best opportunity to unlock the power of our nation’s economy.” 

Child care deserts:COVID-19 made them even worse, leaving working parents to scramble

Parents desperately need child care:But day cares are struggling to retain workers.

Parents forced to choose between child care and work  

Especially when compared with other developed countries, the United States invests very little in child care. The businesses that employ Americans tend not to invest much in that care either.