User:Jaydavidmartin/American Families Plan
The American Families Plan is a soon-to-be-unveiled plan by the Biden Administration to significantly increase federal spending in areas related to childcare, paid leave, pre-kindergarten, community college and healthcare, as well as raise taxes on high-income Americans.[1][2] It is the second part of Joe Biden's "Build Back Better" agenda (the first being a $2.3 trillion infrastructure plan unveiled in early April, 2021) and is intended to focus on "human infrastructure".[3] It is expected to be unveiled in the last week of April, 2021.[1]
Provisions[edit]
While exact details are currently unknown, media reports, analysts' notes and statements by government officials indicate that the plan is expected to include over $200 billion in spending on childcare, roughly $200 billion to make pre-kindergarten universally available for free, over $200 billion towards government-subsidized paid family and medical leave,[4] an unknown amount towards making community college free for all Americans, and roughly $200 billion on health insurance subsidies available through the Affordable Care Act healthcare exchanges.[1][5] It is also expected to extend the boost to the child tax credit made in the American Rescue Plan Act of 2021, which effectively turned the credit into a child allowance.[6][7] It will be at least partially funded by a number of tax hikes on high-income Americans and investors,[1] including restoring the top income tax rate to its pre-2017 level of 39.6% and nearly doubling the capital gains tax for people earning more than $1 million.[3]
References[edit]
- ^ a b c d Stein, Jeff (April 24, 2021). "White House's new $1.8 trillion 'families plan' reflects ambitions — and limits — of Biden presidency". The Washington Post.
{{cite web}}: CS1 maint: url-status (link) - ^ Stein, Jeff; Pager, Tyler (April 19, 2021). "White House closes in on 'families plan' spending proposal centered on child care, pre-K, paid leave". The Washington Post.
{{cite web}}: CS1 maint: url-status (link) - ^ a b Tankersley, Jim (April 22, 2021). "Biden Will Seek Tax Increase on Rich to Fund Child Care and Education". The New York Times.
{{cite web}}: CS1 maint: url-status (link) - ^ Lopez, German (April 23, 2021). "Biden's federal paid leave plan, explained in 600 words". Vox.
{{cite web}}: CS1 maint: url-status (link) - ^ Schroeder, Robert (April 20, 2021). "Biden's 'American Families Plan' is coming. What's in it?". MarketWatch.
{{cite web}}: CS1 maint: url-status (link) - ^ DeParle, Jason (March 7, 2021). "In the Stimulus Bill, a Policy Revolution in Aid for Children". The New York Times.
{{cite web}}: CS1 maint: url-status (link) - ^ Pramuk, Jacob; Mui, Ylan (April 20, 2021). "Biden's recovery plan for families set to cost more than $1 trillion, extend enhanced child tax credit". CNBC.
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