April 30, 2021
President Biden Announces $1.8T “American Families Plan”
President Biden has outlined the new American Families Plan, which will be rolled out in the coming months. The Biden Administration views the plan as a core element of its “build back better” strategy and hopes it will generate a strong and inclusive economy in the future. The plan is an ambitious package that calls for $1 trillion in new spending with another $800 billion in tax credits. Measures include $200 billion to fund universal pre-kindergarten, $109 billion for tuition-free community college for all Americans, $85 billion to increase grants for low-income and minority students, $225 billion for maternity/paternity leave as well as leave caused by serious illness. The plan will extend the Affordable Care Act premiums tax credits indefinitely along with other tax credit expansions. To read more about the American Families Plan, click here.