First, Stevens makes what I think is frankly a bizarre claim:

"The stream of alarming news stories, though, has been based entirely on anecdotal data: collected by advocacy groups, published as research reports, and widely promoted by a well-coordinated advocacy campaign."
We ALSO have secondary evidence from places like child care job postings. So, I think we can safely reject the hypothesis that things in the child care sector just aren't that bad and those pesky advocates are hyping the problem. https://twitter.com/ChrisMHerbst/status/1354554066634870784?s=20
Stevens' second point is about the proposal being not "well targeted". She wants the funds going to family child cares -- which ARE eligible, and she doesn't even claim they're excluded, so ??? -- and that middle class families will get support too. (gasp)
I'll keep my powder dry on Stevens' third point, which is that expanding public support of child care "poses an underrecognized risk to the well-being of children and families," as she has a longer essay coming on that topic. I will make one evergreen point, though:
It is possible (preferable, in fact!) to support BOTH external child care (in all its forms) AND parental care -- allowing parents to choose the care situation they prefer. It's not an either-or, and notably the development of a robust child allowance supports the latter!
In the end, it's a weak attack on a strong proposal. Joe Biden is not bringing compulsory child care for your infant, nor buckets of $$ for those greedy parents & child care providers. He's trying to stabilize a sector & stabilize families. I'm disappointed that's controversial.
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