Biden Introduces American Families Plan

[SummerMadness]

Biden Details $1.8 Trillion Plan for Workers, Students and Families

The Biden administration on Wednesday detailed a $1.8 trillion collection of spending increases and tax cuts that seeks to expand access to education, reduce the cost of child care and support women in the work force, financed by additional taxes on high earners.

The American Families Plan, as the White House calls it, follows the $2.3 trillion infrastructure package President Biden introduced last month, bringing his two-part package of economic proposals to just over $4 trillion. He will present the details to a joint session of Congress on Wednesday evening.

The proposal includes $1 trillion in new spending and $800 billion in tax credits, much of which is aimed at expanding access to education and child care. The package includes financing for universal prekindergarten, a federal paid leave program, efforts to make child care more affordable, free community college for all, aid for students at colleges that historically serve nonwhite communities, expanded subsidies under the Affordable Care Act and an extension of new federal efforts to fight poverty.

Administration officials cast the plan as investing in an inclusive economy that would help millions of Americans gain the skills and the work flexibility they need to build middle-class lifestyles. They cited research on the benefits of government spending to help young children learn. In a 15-page briefing document, they said the package would help close racial and gender opportunity gaps across the economy.

 

[LockeeDeck]

Biden Details $1.8 Trillion Plan for Workers, Students and Families

It will be interesting to see what it gets chopped down to in the negotiations with republicans. The GOP saying no to stuff is the only way to see what they actually care about.

 

[Gene Parmesan]

I wonder if all of that aid going toward childcare being affordable and accessible could lead to lower abortion rates as more potential mothers/parents realize they could have the means to care for a child.

 

[trunks2k]

I wonder if all of that aid going toward childcare being affordable and accessible could lead to lower abortion rates as more potential mothers/parents realize they could have the means to care for a child.

The cost of childcare is crazy. Wife and I both work full time - sending our two kids to day care costs a bit under $24000/yr in total. And that's for reasonably priced day care in our area. And we're not super picky about daycare either, so it's not like we're paying a premium for some amazing day care.

Just one more year of my eldest going to day care.... so close...

 

[Gene Parmesan]

The cost of childcare is crazy. Wife and I both work full time - sending our two kids to day care costs a bit under $24000/yr in total. And that's for reasonably priced day care in our area.

Just one more year of my eldest going to day care.... so close...

When we had our second kid, we realized that one of us was basically working to put both of our kids in daycare. It was madness. So we decided my wife should stay home during that time (only because I was making a bit more). So expensive.

 

[Oneiric1975]

...I dunno about all this "taking care of American citizens and infrastructure". It will be a strange kind of reality for us. We should probably stop thinking about all this "society" stuff, lest we fall out of favor with the god on our money (Mammon presumably).

Can't we just focus on taking care of the ultrawealthy some more?

 

[Arcangl86]

The cost of childcare is crazy. Wife and I both work full time - sending our two kids to day care costs a bit under $24000/yr in total. And that's for reasonably priced day care in our area. And we're not super picky about daycare either, so it's not like we're paying a premium for some amazing day care.

Just one more year of my eldest going to day care.... so close...

That is absurd. I payed less than that per year for college.

 

[Belk]

I wonder if all of that aid going toward childcare being affordable and accessible could lead to lower abortion rates as more potential mothers/parents realize they could have the means to care for a child.

My understanding is this is a huge factor in why women choose abortions. I can't help but think it would have a large impact on the abortion numbers.

 

[Fantine]

The Trump tax cuts were misguided and only the wealthiest got any significant benefit.

When allowable deductions are factored in, United States corporate taxes prior to Trump's misguided 2017 tax cuts were not out-of-line with other industrialized nations and did not put us at a competitive disadvantage.

What hurts businesses and corporations most is the lack of a middle class, the lack of educated and skilled workers, etc.

I sometimes think of my Guatemala mission experience. One day we took a side trip to the "tablon," a squatters village. The last thing you saw before roads, electricity, running water, heat, broadband connections, etc. disappeared was a coffee plant, and the owner's lavish home with pool, tennis courts, mansion, completely gated off....

Would you want to live there, knowing that your "neighbors" built houses out of trash bags and sheet metal and had no education for their children, utilities, water, etc. ?

We aren't there....yet....but income inequality is unacceptably high, and at some point soon businesses will lose customers and have a hard time finding skilled workers.

How shortsighted the greedy "me-firsters" are...

 

[trunks2k]

That is absurd. I payed less than that per year for college.

It's 24,000 combined. Roughly $1000/month for each kiddo.

 

[grasping the after wind]

It will be interesting to see what it gets chopped down to in the negotiations with republicans. The GOP saying no to stuff is the only way to see what they actually care about.

Why would there be any negotiations with the GOP?

 

[mark46]

The negotiations are with Manchin. How many trillions will he vote for as a representative of a state that is 70% conservative?

He's approved the COVID plus trillions law. He will be the key in the negotiations on infrastructure. What's another couple of trillion? IMO, ALL of this will need to be paid for, and I do NOT see a majority of Congress voting for more tax increase, after the tax increases associated with the infrastructure bill.

An NO, this will not help Manchin vote to end the filibuster.

 

[mark46]

Do you think that it will work to raise taxes on the rich and corporations by over $4T as has been proposed (to fund infrastructure and the new bill)?

The Trump tax cuts were misguided and only the wealthiest got any significant benefit.

When allowable deductions are factored in, United States corporate taxes prior to Trump's misguided 2017 tax cuts were not out-of-line with other industrialized nations and did not put us at a competitive disadvantage.

What hurts businesses and corporations most is the lack of a middle class, the lack of educated and skilled workers, etc.

I sometimes think of my Guatemala mission experience. One day we took a side trip to the "tablon," a squatters village. The last thing you saw before roads, electricity, running water, heat, broadband connections, etc. disappeared was a coffee plant, and the owner's lavish home with pool, tennis courts, mansion, completely gated off....

Would you want to live there, knowing that your "neighbors" built houses out of trash bags and sheet metal and had no education for their children, utilities, water, etc. ?

We aren't there....yet....but income inequality is unacceptably high, and at some point soon businesses will lose customers and have a hard time finding skilled workers.

How shortsighted the greedy "me-firsters" are...

 

[Fantine]

Over 1 trillion per year was caused by Trump's tax cuts. By taking that back, even if we spend 1 trillion per year we won't be any worse off.

And remember, the cost of the bill usually covers up to 10 years.

 

[LockeeDeck]

Why would there be any negotiations with the GOP?

The majority is slim enough that some political trading would be required to get this passed.

 

[mala]

The cost of childcare is crazy. Wife and I both work full time - sending our two kids to day care costs a bit under $24000/yr in total. And that's for reasonably priced day care in our area. And we're not super picky about daycare either, so it's not like we're paying a premium for some amazing day care.

Just one more year of my eldest going to day care.... so close...

if you're not picky about day care just find a tree stump and just buy some leashes. i mean what are they gonna do about it?

 

[mark46]

Over 1 trillion per year was caused by Trump's tax cuts. By taking that back, even if we spend 1 trillion per year we won't be any worse off.

And remember, the cost of the bill usually covers up to 10 years.

fair enough

I have no problem if both bills are paid for by reversing the tax cuts.

However, I don't that there is enough support for returning the corporate tax back to where it was.

 

[Andrewn]

I liked Biden's speech. But these huge bills will increase inflation and may have other adverse consequences. This graph shows how the value of US dollars, which is reflected in buying power, has declined over the past year:

Xe: USD / CAD Currency Chart. US Dollar to Canadian Dollar Rates

 

[Tiberius Lee]

Democrat has to pass this alone. GOP will not support any of this. Good evangelical Christian truly care about “baby” in the womb , but once the baby is born, they care more about the $$$ then the baby! So don’t hold your breath that any of them would like idea about child care or education or family leave to take care infant.

 

[Arcangl86]

It's 24,000 combined. Roughly $1000/month for each kiddo.

I know. I still payed less than that for college. I payed about 8k a year.