1 2021-04-29 08:25:43Xinhua
Editor : Li Yan
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U.S. President Joe Biden is set to unveil a 1.8-trillion-U.S.-dollar spending plan focusing on childcare and education later Wednesday, just a few weeks after proposing a 2-trillion-dollar infrastructure plan.
Biden will pitch the new spending plan before a joint session of Congress Wednesday night, as he approaches the 100-day mark of his presidency.
The proposal would include about 1 trillion dollars in investments and 800 billion dollars in tax credits over a decade, and will be fully paid for over 15 years in part by increased tax for wealthiest Americans, according to a fact sheet released by the White House Wednesday morning.
In His First Hundred Days, Biden Calls for $6 2 Trillion in Taxpayer Spending cnsnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnsnews.com Daily Mail and Mail on Sunday newspapers.
The White House’s proposal would direct hundreds of billions of dollars to child care, paid family leave, tuition-free community college, and a slew of other initiatives.
By Syndicated Content
By Jarrett Renshaw
(Reuters) â President Joe Biden on Wednesday will propose raising taxes on the wealthiest Americans to pay for pre-kindergarten and community college education and paid leave for healthcare. The $1.8 trillion plan involves $1 trillion in new spending and $800 billion in tax credits.
WHAT AMERICANS WOULD GET
Universal pre-kindergarten: Biden will ask Congress to provide $200 billion for free preschool for all 3- and 4-year-olds.
Childcare: The package would assure that low- and middle-income families pay no more than 7 percent of their income on childcare for children under 5 years old.
Paid family leave: It would guarantee 12 weeks of paid parental and family leave by year 10 of the program and also assure that workers receive three days of bereavement leave a year starting in the first year.
Making permanent a more expansive tax credit is unlikely to make as much of a difference in the lives of lower-income families as other White House initiatives, so the White House should go further.