$775 billion plan to be paid for by rolling back ‘unproductive and unequal tax breaks’ for wealthy real estate investors, campaign says
Joe Biden on Tuesday will unveil a $775 billion plan for child care and elder care that includes universal preschool and tax credits for lower-income families, as part of his plan to help the U.S. economy recover from the coronavirus pandemic.
Presumptive Democratic presidential nominee Biden will detail his proposals in a speech in New Castle, Del., marking the third plank of what he calls his “Build Back Better” plan.
According to his campaign, the former vice president will call for universal preschool for three-and four-year olds; offer low-income and middle-class families a tax credit of up to $8,000 to help pay for child care; and propose eliminating the current waitlist for home and community services under Medicaid.
Biden’s campaign says the 10-year plan will be paid for by “rolling back unproductive and unequal tax breaks” for real-estate investors making more than $400,000, as well as increasing “tax compliance for high-income earners.”
Biden has previously announced a $2 trillion clean-energy plan and a $700 billion proposal aimed at increasing government purchasing of American-made products.
The plan comes as Biden is leading President Donald Trump in national polls of voters and in surveys of battleground states including Arizona and Pennsylvania ahead of the elections in November.