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What’s in Biden’s $1.8 Trillion American Families Plan Funded by Tax Hikes
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April 28, 2021
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13:27Now PlayingPresident Joe Biden’s administration on Wednesday unveiled a $1.8 trillion, 10-year plan to ramp up federal support for American families, with a major expansion in spending on child care, paid leave and education.
The “American Families Plan,” which Biden will tout in a joint address to Congress Wednesday night, is funded in part by $1.5 trillion of tax hikes on the wealthiest Americans. The proposals still face major changes in Congress, with Republicans set against higher taxes and Democrats having their own priorities.
Ambitious as it is, Biden’s program omits some of his campaign-trail agenda items and lacks any move to address a cap on state and local tax deductions that Democrats from high-tax states want removed.
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