Breaking: Biden Unveils $1.8 Trillion ‘American Families’ Plan

Just weeks after introducing an infrastructure package that would require roughly $2 trillion in new government spending, President Biden is set to unveil another massive spending package during his address to a joint session of Congress Wednesday night, this time in the form of a $1.8 trillion “families” bill designed to bolster education, child care, and provide paid family leave.

The American Families Plan, which also comes after the passage of a $1.9 trillion COVID-relief bill, includes $400 billion to extend the existing child tax credit, $225 billion in childcare subsidies, $225 billion for a national paid family leave program, $200 billion for universal preschool, and much else.

“These are generational investments in our future, in the future of our families and the future of our kids,” a senior administration official said of the plan to CNN.

Biden is preparing to increase taxes on wealthy individuals to finance the program, raising about $1.5 trillion over the next ten years.

 

Biden Unveils $1.8 Trillion ‘American Families’ Plan The plan calls to raise taxes on wealthy individuals to pay for significant child care, paid family leave, and ... READ MORE ADVERTISEMENT Follow Us & Share 19 West 44th Street, Suite 1701, New York, NY, 10036, USA Your Preferences | Unsubscribe | Privacy View this e-mail in your browser.