The CEDS Act modifies federal economic development grants under the Public Works and Economic Development Act of 1965 to require that communities receiving funding develop economic strategies that increase access to affordable, quality care services including child care, early childhood education, disability care, long-term care, and elder care. The bill affects local and regional organizations that receive economic development grants from the federal government and must now factor care accessibility into their economic planning. The Secretary of Commerce must issue guidance within one year on how to implement these requirements, and existing grant recipients only need to update their strategies during their regularly scheduled review periods, not immediately. This legislation treats care services as an economic development issue, recognizing that access to affordable childcare and elder care can help communities attract and retain workers and support economic growth.