Child care providers navigate a challenging and competitive industry, where the substantial cost of providing safe, quality care for children meeting all state standards has to be balanced against families' ability and willingness to pay for care. Operating a business where narrow profit margins can turn into significant deficits from one week to the next is difficult under normal circumstances, and quickly becomes untenable under more restrictive conditions. As New Jersey tentatively reopens K-12 schools after being closed for over five months, many of the state's child care providers have remained open throughout the COVID-19 pandemic to serve the children of essential workers. Throughout this time, providers have been required to observe more restrictive group sizes and child/staff ratios, while also increasing time and resources spent on cleaning and sanitizing, to prevent the spread of COVID-19. With unchanged tuition rates, these new standards quickly push many child care providers from an already tight financial situation into one that cannot be sustained. This paper examines in-depth the impact of new and existing regulations on child care providers' revenues and expenditures, and the subsidy rates required to financially sustain child care providers in New Jersey. [This publication is a product of the Infant and Toddler Policy Research Center at NIEER, which is within the National Institute for Early Education Research (NIEER) at the Rutgers Graduate School of Education.]