Private equity has a long history of exploiting and abusing businesses that they acquire for the sole purpose of profit. Sectors like healthcare, nursing, housing, and childcare have all been targets of private equity firms’ business practices which can result in higher prices, reducing workforce, decreased diversity and competition, and ultimately closure with little legal or financial recourse for those affected. In sector after sector, private equity firms have caused substantive harms to the workers and communities who depend on the companies that these funds have targeted. 

 

I will be introducing legislation to safeguard Pennsylvania’s childcare industry from practices associated with private equity that undermine the industry and those who depend on it. This legislation will establish reasonable guardrails to ensure that childcare providers prioritize children, families, and workers over excessive profits. 

 

Childcare is a foundational aspect of Pennsylvania’s economy by allowing parents and caregivers to work while supporting positive child development. The childcare industry also drives Pennsylvania’s economy by employing thousands of people across the Commonwealth. We cannot afford to let private equity destroy the already strained childcare industry in the name of profit. Please join me in co-sponsoring this important legislation to protect our childcare industry.