The Build Back Better (BBB) Act's "Birth through Five Child Care and Early Learning Program," would provide access to child care for approximately 20 million children and free universal preschool for 6 million children. The bill's historic investments would also improve the quality of programs, increase pay for providers, and reduce child care costs for families. This robust funding allows states to make policy decisions, without the harmful trade-offs, that often result from limited resources. Historically, significant underfunding and a scarcity mindset has driven state policymakers to make difficult decisions about how to allocate limited resources despite an increasing need throughout the system. And, in doing so, policymakers have too often overlooked the children and families who have been deeply impacted by these trade-offs and are in most need. This report discusses historical racial inequities, how the BBB Act's significant funding will be foundational to creating an equitable child care and early education system, and why the act offers an important step toward addressing ongoing systemic and structural inequities that deeply harm children, families, and providers of color.