Shining a spotlight on care for some of the youngest and oldest Americans, former Vice President Joe Biden is proposing to provide universal pre-school for 3- …
Shining a spotlight on care for some of the youngest and oldest Americans, former Vice President Joe Biden is proposing to provide universal pre-school for 3- and 4-year-old children, build new child care facilities, and expand access to a wider array of long-term care options for seniors. The presumptive Democratic presidential nominee’s campaign says the plan, unveiled Tuesday morning, would cost $775 billion over 10 years. They say that it would be paid for by rolling back tax breaks for real estate investors with incomes over $400,000 and taking steps to increase tax compliance for high-income earners. “Biden’s plan limits the ability of wealthy real estate investors to take advantage of unproductive tax breaks to skirt their tax liabilities,” a senior campaign official told reporters. The campaign says that the plan would put 3 million Americans to work in new care and education jobs. They predict that if enacted, it would increase overall employment by about 5 million after taking into account the economic impacts of increased labor force participation after unpaid caregivers are freed up to pursue paid careers.
