The COVID-19 crisis has been a nearly unprecedented disruption to American education at all levels. Disruptions to early childhood learning have also been widespread. Public pre-K programs attended by 1.6 million children nationwide were closed to help stop the community spread of COVID-19. Roughly one-third of children under age five typically receive services in an organized child care facility--including preschool classrooms. Past crises, like the Great Recession, permanently reduced achievement and attainment among American students, with negative effects particularly concentrated in lower-income school districts. These disruptions may be especially acute for younger, disadvantaged children who would likely have had the most to gain from high-quality early childhood education and services. The US needs an increasingly well-educated and trained workforce that can meet employers' changing demands and ensure the nation's economic strength and global competitiveness. COVID-19 has only made it clearer that the nation must invest so that all American children reach their full potential. COVID-19 has also highlighted the fragility of the current child care financing model, as well as the indispensability of such care for supporting the work effort of parents. While forthcoming Solutions Briefs from the Committee for Economic Development of The Conference Board (CED) will address recommendations for the later stages of the education continuum, this Solutions Brief focuses on the early learning years. To support a successful 21st-century economy and recovery from the COVID-19 pandemic, policy makers and business leaders must take timely action as partners to: (1) most immediately, tackle the destructive impact of COVID-19 on child care, an industry that is critical to helping Americans return to work; and (2) advance high-quality care and education for children under five, ensuring that all children have access to high-quality early learning opportunities, including a durable financing system, appropriate support and training for staff, and private sector leadership and participation.