The global COVID-19 pandemic has caused dramatic changes in the landscape for child care and early education programs in the United States. Already operating on fragile margins, child care programs have experienced financial upheaval as a result of mandated closures in some states, fluctuating and unpredictable demand for child care, increased health and safety regulations (including decreased ratios and stringent cleaning procedures), and shifts in school district plans for full or partial virtual learning for K–12 education. A June 2020 survey conducted by the National Association for the Education of Young Children of more than 5,000 individuals working in centers and family child care in the United States (not a nationally representative sample) estimated that without assistance two in five programs will close permanently. The survey also found that enrollment in child care programs decreased by two-thirds on average while costs for providers increased. As policymakers consider responses to the child care financial crisis, they must ensure that their decisions reflect the unique financial needs and structures of child care programs. Guidance and technical assistance are needed to support state policymakers in allocating financial resources to promote short- and long-term sustainability of child care programs.