Biden Set To Pitch $1.8 Trillion “American Families Plan” To Congress

What’s Happening:

• On Wednesday, President Biden plans to unveil his $1.8 trillion “American Families Plan.”

• The massive plan contains federal investments in education, child care and paid family leave and is the second half of Biden’s two-part plan to revitalize the nation and help the economic recovery.

• The plan would make permanent several of the tax credits that were contained in the Covid Relief Bill Congress passed earlier this year.

• The White House says the bill will pay for itself within 15 years by increasing corporate taxes and taxes on the wealthy. The plan pairs with the “American Jobs Plan,” Biden’s infrastructure proposal which aims to improve the nation’s roads, railways, bridges, schools and broadband as well as include funding for additional care for the elderly or disabled. The plan would also increase the wages of care workers.

• The two plans are already meeting opposition from Republicans as well as some moderate Democrats. Several lawmakers feel the packages are too large and do not include key components such as a reduction in prescription drug prices.

Developing Story

Photo Source: whitehouse.gov

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