Money directed at families is added to an earlier proposal on infrastructure.
President Biden released the second portion of his economic plan on Wednesday: $1.8 trillion in new spending and tax cuts over 10 years for workers, families and children. That’s on top of the $2.3 trillion infrastructure plan he released at the end of March. Together, here’s what’s included:
#g-chart-box ,
#g-chart-box .g-artboard {
margin:0 auto;
}
#g-chart-box p {
margin:0;
}
#g-chart-box .g-aiAbs {
position:absolute;
}
#g-chart-box .g-aiImg {
position:absolute;
top:0;
display:block;
width:100% !important;
}
#g-chart-box .g-aiSymbol {
position: absolute;
box-sizing: border-box;
}
#g-chart-box .g-aiPointText p { white-space: nowrap; }
#g-chart-Artboard_2 {
position:relative;
overflow:hidden;
}
#g-chart-Artboard_2 p {
font-family:nyt-franklin,arial,helvetica,sans-serif;
font-weight:500;
line-height:15px;
height:auto;
filter:alpha(opacity=100);
-ms-filter:progid:DXImageTransform.Microsoft.Alpha(Opacity=100);
opacity:1;
letter-spacing:0em;
font-size:13px;
text-align:left;
color:rgb(51,51,51);
top:1px;
position:static;
text-transform:none;
padding-bottom:0;
padding-top:0;
mix-blend-mode:normal;
font-style:normal;
}
#g-chart-Artboard_2 .g-pstyle0 {
font-weight:700;
line-height:31px;
height:31px;
font-size:16px;
color:rgb(0,0,0);
top:1.3px;
position:relative;
}
#g-chart-Artboard_2 .g-pstyle1 {
height:15px;
text-align:center;
position:relative;
}
#g-chart-Artboard_2 .g-pstyle2 {
font-weight:300;
line-height:31px;
height:31px;
font-size:14px;
color:rgb(0,0,0);
top:1.1px;
position:relative;
}
#g-chart-Artboard_2 .g-pstyle3 {
line-height:17px;
font-size:14px;
color:rgb(161,161,161);
}
#g-chart-Artboard_2 .g-pstyle4 {
font-weight:700;
line-height:22px;
height:22px;
font-size:19px;
text-align:center;
color:rgb(0,0,0);
top:1.5px;
position:relative;
}
#g-chart-Artboard_2 .g-pstyle5 {
text-align:center;
}
#g-chart-Artboard_2 .g-cstyle0 {
font-weight:300;
}
#g-chart-Artboard_2 .g-cstyle1 {
font-weight:300;
font-size:14px;
}
#g-chart-Artboard_2 .g-cstyle2 {
font-weight:700;
font-size:16px;
}
#g-chart-Artboard_2 .g-cstyle3 {
font-size:16px;
}
#g-chart-Artboard_2_copy {
position:relative;
overflow:hidden;
}
#g-chart-Artboard_2_copy p {
font-family:nyt-franklin,arial,helvetica,sans-serif;
font-weight:500;
line-height:13px;
height:auto;
filter:alpha(opacity=100);
-ms-filter:progid:DXImageTransform.Microsoft.Alpha(Opacity=100);
opacity:1;
letter-spacing:0em;
font-size:12px;
text-align:left;
color:rgb(51,51,51);
top:1px;
position:static;
text-transform:none;
padding-bottom:0;
padding-top:0;
mix-blend-mode:normal;
font-style:normal;
}
#g-chart-Artboard_2_copy .g-pstyle0 {
font-weight:700;
line-height:31px;
height:31px;
font-size:15px;
color:rgb(0,0,0);
top:1.2px;
position:relative;
}
#g-chart-Artboard_2_copy .g-pstyle1 {
font-weight:300;
line-height:31px;
height:31px;
font-size:13px;
color:rgb(0,0,0);
position:relative;
}
#g-chart-Artboard_2_copy .g-pstyle2 {
height:13px;
text-align:center;
position:relative;
}
#g-chart-Artboard_2_copy .g-pstyle3 {
line-height:17px;
font-size:13px;
color:rgb(161,161,161);
}
#g-chart-Artboard_2_copy .g-pstyle4 {
font-weight:700;
line-height:19px;
height:19px;
font-size:16px;
text-align:center;
color:rgb(0,0,0);
top:1.3px;
position:relative;
}
#g-chart-Artboard_2_copy .g-pstyle5 {
text-align:center;
}
#g-chart-Artboard_2_copy .g-pstyle6 {
height:13px;
position:relative;
}
#g-chart-Artboard_2_copy .g-cstyle0 {
font-weight:300;
font-size:16px;
}
#g-chart-Artboard_2_copy .g-cstyle1 {
font-weight:300;
font-size:13px;
}
#g-chart-Artboard_2_copy .g-cstyle2 {
font-weight:700;
font-size:15px;
}
#g-chart-Artboard_2_copy_2 {
position:relative;
overflow:hidden;
}
#g-chart-Artboard_2_copy_2 p {
font-family:nyt-franklin,arial,helvetica,sans-serif;
font-weight:500;
line-height:13px;
height:auto;
filter:alpha(opacity=100);
-ms-filter:progid:DXImageTransform.Microsoft.Alpha(Opacity=100);
opacity:1;
letter-spacing:0em;
font-size:11px;
text-align:left;
color:rgb(51,51,51);
top:0.9px;
position:static;
text-transform:none;
padding-bottom:0;
padding-top:0;
mix-blend-mode:normal;
font-style:normal;
}
#g-chart-Artboard_2_copy_2 .g-pstyle0 {
font-weight:700;
line-height:31px;
height:31px;
font-size:16px;
color:rgb(0,0,0);
top:1.3px;
position:relative;
}
#g-chart-Artboard_2_copy_2 .g-pstyle1 {
font-weight:300;
line-height:31px;
height:31px;
font-size:14px;
color:rgb(0,0,0);
top:1.1px;
position:relative;
}
#g-chart-Artboard_2_copy_2 .g-pstyle2 {
font-weight:700;
line-height:17px;
height:17px;
font-size:14px;
text-align:center;
color:rgb(0,0,0);
top:1.1px;
position:relative;
}
#g-chart-Artboard_2_copy_2 .g-pstyle3 {
font-weight:300;
line-height:15px;
height:15px;
font-size:13px;
text-align:center;
color:rgb(0,0,0);
top:1px;
position:relative;
}
#g-chart-Artboard_2_copy_2 .g-pstyle4 {
font-weight:300;
line-height:31px;
height:31px;
font-size:13px;
text-align:center;
color:rgb(0,0,0);
top:1px;
position:relative;
}
#g-chart-Artboard_2_copy_2 .g-pstyle5 {
font-weight:700;
line-height:31px;
height:31px;
font-size:16px;
text-align:right;
color:rgb(0,0,0);
top:1.3px;
position:relative;
}
#g-chart-Artboard_2_copy_2 .g-pstyle6 {
line-height:15px;
font-size:13px;
text-align:right;
color:rgb(161,161,161);
}
#g-chart-Artboard_2_copy_2 .g-pstyle7 {
text-align:center;
}
#g-chart-Artboard_2_copy_2 .g-pstyle8 {
height:13px;
text-align:center;
position:relative;
}
#g-chart-Artboard_2_copy_2 .g-pstyle9 {
height:13px;
position:relative;
}
#g-chart-Artboard_2_copy_2 .g-pstyle10 {
font-weight:700;
line-height:19px;
height:19px;
font-size:16px;
color:rgb(0,0,0);
top:1.3px;
position:relative;
}
#g-chart-Artboard_2_copy_2 .g-pstyle11 {
height:13px;
text-align:right;
position:relative;
}
#g-chart-Artboard_2_copy_2 .g-pstyle12 {
line-height:15px;
font-size:13px;
color:rgb(161,161,161);
}
#g-chart-Artboard_2_copy_2 .g-pstyle13 {
line-height:11px;
height:11px;
font-size:10px;
text-align:center;
top:0.8px;
position:relative;
}
#g-chart-Artboard_2_copy_2 .g-cstyle0 {
font-weight:300;
}
#g-chart-Artboard_2_copy_2 .g-cstyle1 {
font-weight:300;
font-size:14px;
}
#g-chart-Artboard_2_copy_2 .g-cstyle2 {
font-weight:700;
font-size:16px;
}
#g-chart-Artboard_2_copy_2 .g-cstyle3 {
font-size:16px;
}
#g-chart-Artboard_2_copy_3 {
position:relative;
overflow:hidden;
}
#g-chart-Artboard_2_copy_3 p {
font-family:nyt-franklin,arial,helvetica,sans-serif;
font-weight:500;
line-height:11px;
height:auto;
filter:alpha(opacity=100);
-ms-filter:progid:DXImageTransform.Microsoft.Alpha(Opacity=100);
opacity:1;
letter-spacing:0em;
font-size:10px;
text-align:left;
color:rgb(51,51,51);
top:0.8px;
position:static;
text-transform:none;
padding-bottom:0;
padding-top:0;
mix-blend-mode:normal;
font-style:normal;
}
#g-chart-Artboard_2_copy_3 .g-pstyle0 {
font-weight:700;
line-height:31px;
height:31px;
font-size:15px;
color:rgb(0,0,0);
top:1.2px;
position:relative;
}
#g-chart-Artboard_2_copy_3 .g-pstyle1 {
font-weight:300;
line-height:31px;
height:31px;
font-size:13px;
color:rgb(0,0,0);
top:1px;
position:relative;
}
#g-chart-Artboard_2_copy_3 .g-pstyle2 {
height:11px;
text-align:center;
position:relative;
}
#g-chart-Artboard_2_copy_3 .g-pstyle3 {
line-height:17px;
font-size:13px;
color:rgb(161,161,161);
}
#g-chart-Artboard_2_copy_3 .g-pstyle4 {
font-weight:700;
line-height:17px;
height:17px;
font-size:14px;
text-align:center;
color:rgb(0,0,0);
top:1.1px;
position:relative;
}
#g-chart-Artboard_2_copy_3 .g-pstyle5 {
text-align:center;
}
#g-chart-Artboard_2_copy_3 .g-pstyle6 {
height:11px;
position:relative;
}
#g-chart-Artboard_2_copy_3 .g-cstyle0 {
font-weight:300;
font-size:16px;
}
#g-chart-Artboard_2_copy_3 .g-cstyle1 {
font-weight:300;
font-size:13px;
}
#g-chart-Artboard_2_copy_3 .g-cstyle2 {
font-weight:700;
font-size:15px;
}
Infrastructure plan $2.3 trillion
Child care
facilities
$25
Families plan $1.8 trillion
Public schools
$100
Amounts on the chart in billions
Buildings and Utilities
Water
systems
$66
Community
colleges
$12
Affordable housing
$213
Expansion of the child, earned-income, and child and dependent care tax credits
$600
Federal
buildings
$10
Roads and
bridges
$115
High-speed
broadband
$100
Eliminate
lead pipes
$45
Tax Credits
Disaster
resilience
$50
Transportation
Veterans
hospitals
$18
I.R.S.
Electric vehicle
incentives
$174
Road
safety
$20
Waterways
and ports
$17
Electric grid and
clean energy
$100
Investments
to collect more
revenue
$80
A.C.A premium
tax credit expansion
$200
Airports
$25
Passenger and
freight railways
$80
Other
$35
Public transit
$85
Community
investment
$20
Underserved
communities
$20
Paid family and
medical leave
$225
H.B.C.U.s
$25
Nutrition
programs
$45
Innovation
$14
Research
infrastructure
$40
Supply
chain
support
$50
Child and Family
Support
Underserved
places $12
Completion
and retention
$62
Climate
technology
$35
In-Home Care
Jobs and
Innovation
Child care
$225
Care for people with
disabilities and older adults
$400
Colleges and
universities
serving minority
groups $46
Two years of
free community
college
$109
Dislocated
workers
$40
Domestic
manufacturing
$52
Pandemic
prep $30
Rural
areas $5
Teachers
$9
Semi-
conductor
industry
$50
R&D
$30
National
Science
Foundation
$50
Pell grants
$85
Education
Free universal
preschool
$200
Small
businesses
$31
Clean
energy
$46
Work force
development
$48
Infrastructure plan $2.3 trillion
Families plan $1.8 trillion
Child care
facilities
$25
Public schools
$100
Amounts on the chart in billions
Buildings and Utilities
Water
systems
$66
Community
colleges
$12
Affordable housing
$213
Expansion of the child, earned-income, and child and dependent care tax credits
$600
Federal
buildings
$10
Roads and
bridges
$115
High-speed
broadband
$100
Eliminate
lead pipes
$45
Tax Credits
Disaster
resilience
$50
Veterans
hospitals
$18
Transportation
I.R.S.
Electric vehicle
incentives
$174
Road
safety
$20
Waterways
and ports
$17
Electric grid and
clean energy
$100
Investments
to collect more
revenue
$80
A.C.A premium
tax credit expansion
$200
Airports
$25
Passenger and
freight railways
$80
Other
$35
Public transit
$85
Community
investment
$20
Underserved
communities
$20
Paid family and
medical leave
$225
H.B.C.U.s
$25
Nutrition
programs
$45
Innovation
$14
Research
infrastructure
$40
Completion
and retention
$62
Supply
chain
support
$50
Child and Family
Support
Underserved
places $12
Climate
technology
$35
In-Home Care
Child care
$225
Jobs
Care for people with
disabilities and older adults
$400
Colleges and
universities
serving minority
groups $46
Dislocated
workers
$40
Two years of
free community
college
$109
Domestic
manufacturing
$52
Pandemic
prep $30
Rural
areas $5
Teachers
$9
Semi-
conductor
industry
$50
R&D
$30
National
Science
Foundation
$50
Pell grants
$85
Education
Free universal
preschool
$200
Small
businesses
$31
Clean
energy
$46
Work force
development
$48
Infrastructure plan $2.3 trillion
Families plan $1.8 trillion
Buildings
and Utilities
Tax Credits
$689 billion
$800
I.R.S.
Transportation
$80
$621
Child and
Family Support
$495
In-Home
Care
Jobs and
Innovation
$400
Education
$511
$578
Families plan detail
Amounts on the chart in billions
Expansion of the child, earned-income, and child and dependent care tax credits
$600
Tax Credits
I.R.S.
Investments
to collect more
revenue
$80
A.C.A premium
tax credit expansion
$200
Paid family and
medical leave
$225
Nutrition
programs
$45
Child and Family
Support
Completion
and retention
$62
Child care
$225
Colleges and
universities
serving minority
groups $46
Two years of
free community
college
$109
Teachers
$9
Pell grants
$85
Education
Free universal
preschool
$200
Infrastructure
plan detail
Child care
facilities
$25
Public schools
$100
Amounts on the chart in billions
Buildings and Utilities
Water
systems
$66
Community
colleges
$12
Affordable housing
$213
Federal
buildings
$10
High-speed
broadband
$100
Roads and
bridges
$115
Eliminate
lead pipes
$45
Veterans
hospitals
$18
Disaster
resilience
$50
Transportation
Electric grid
and clean
energy
$100
Road
safety
$20
Electric vehicle
incentives
$174
Waterways
and ports
$17
Airports
$25
Community
investment
$20
Public transit
$85
Passenger and
freight railways
$80
Underserved
communities
$20
Other
$35
H.B.C.U.s
$25
Research
infra-
structure
$40
Innovation
$14
Underserved
places $12
Supply
chain
support
$50
Climate
technology
$35
In-Home Care
Jobs
Care for people with
disabilities and older
adults
$400
Dislocated
workers
$40
Domestic
manufacturing
$52
Pandemic
prep $30
Semi-
conductor
industry
$50
R&D
$30
National
Science
Foundation
$50
Small
businesses
$31
Clean
energy
$46
Work force
development
$48
Infrastructure plan $2.3 trillion
Families plan $1.8 trillion
Child care
facilities
$25
Amounts on the chart in billions
Public schools
$100
Buildings and Utilities
Water
systems
$66
Community
colleges
$12
Affordable housing
$213
Expansion of the child, earned-income, and child and dependent care tax credits
$600
Federal
buildings
$10
Roads and
bridges
$115
High-speed
broadband
$100
Eliminate
lead pipes
$45
Tax Credits
Disaster
resilience
$50
Veterans
hospitals
$18
Transportation
I.R.S.
Electric vehicle
incentives
$174
Road
safety
$20
Waterways
and ports
$17
Electric grid and
clean energy
$100
Investments
to collect more
revenue
$80
A.C.A premium
tax credit expansion
$200
Airports
$25
Passenger and
freight railways
$80
Other
$35
Public transit
$85
Community
investment
$20
Underserved
communities
$20
Paid family and
medical leave
$225
H.B.C.U.s
$25
Nutrition
programs
$45
Innovation
$14
Research
infrastructure
$40
Completion
and retention
$62
Child and Family
Support
Supply
chain
support
$50
Underserved
places $12
Climate
technology
$35
In-Home Care
Child care
$225
Jobs
Care for people with disabilities
and older adults
$400
Colleges and
universities
serving minority
groups $46
Dislocated
workers
$40
Two years of
free community
college
$109
Domestic
manufacturing
$52
Pandemic
prep $30
Rural
areas $5
Teachers
$9
Semi-
conductor
industry
$50
R&D
$30
National
Science
Foundation
$50
Pell grants
$85
Education
Free universal
preschool
$200
Small
businesses
$31
Clean
energy
$46
Work force
development
$48
Most of the spending and tax cuts in Wednesday’s proposal is directed at families, with provisions for a national paid family and medical leave program; child care subsidies; and extensions of several tax credit expansions from the most recent Covid-19 relief law.
Newly proposed education spending includes universal prekindergarten for 3- and 4-year-olds; two years of free community college; an increase in the maximum Pell Grant award; and investments in colleges and universities serving minority groups.
The plan also calls on Congress to adjust the unemployment insurance system so that it would automatically link the length and amount of benefits to economic conditions.
The president intends to pay for the infrastructure portion of the plan with 15 years of higher taxes on corporations.
The proposal announced Wednesday would be financed partly through tax increases on the wealthiest Americans. Part of that strategy is to give more money and enforcement power to the Internal Revenue Service to crack down on tax evasion.
Source: Economy - nytimes.com
