Washington – Joe Biden wants to spend more than three-quarters of a trillion dollars to dramatically improve care for older Americans, bolster low-income…
Washington – Joe Biden wants to spend more than three-quarters of a trillion dollars to dramatically improve care for older Americans, bolster low-income families’ tax credits and provide preschool for all 3- and 4-year-olds – part of the presumptive Democratic presidential nominee’s larger plan to remake an economy ravaged by the coronavirus.
Unveiled Tuesday, the proposal is slated to cost $775 billion over 10 years and is designed to create 3 million new jobs caring for older people and providing improved early education to children. Biden promises to pay for it by reducing tax breaks for real estate investors with annual incomes of $400,000-plus, while also increasing compliance with existing tax law for high earners.
The former vice president is planning to provide more details during an afternoon speech near his home in Wilmington, Delaware.
“The pandemic has laid bare just how hard it is for people in this country to find access to quality caregiving they need for themselves, or to juggle the responsibilities of working and also caring for family members,” Biden campaign’s wrote in a 10-page announcement of the plan.
