By Roseanne Tellez

(CBS) — Child care advocates are warning about the economic ripple if a $300 million budget hole isn’t filled — and quick.

Parents could lose their subsidies, and without childcare, they could lose their jobs. And without clients, daycare centers could lose their business.

CBS 2’s Roseanne Tellez reports.

Workers at Kiddie Academy in Bolingbrook got word last week that the state’s childcare assistance program is rapidly running out of money.

“We were all devastated, shocked. Because it’s very scary knowing this could affect 50 percent of our families here,” Katie Moore says.

Daycare at facilities would be too expensive for most of these kids, if not for a state subsidy designed  to help low-income families. A lapse in payments could be devastating for parents.

“I need both kids to be able to use this program and be able to go to school,” mom Larasha Nelson says. “If not, I can’t support them. I’m a single mom. I have two kids. What would I do with my kids?”

Amy Emerson, childcare resource and referral, says it’s time for action.

Friday afternoon, state Sen. Emil Jones introduced legislation to provide the $300 million to keep the program afloat.

Families of 195,000 children across the state participate.