Joe Biden unveils 10-year economic plan

Democratic presidential candidate Joe Biden unveiled a $775 billion economic plan Tuesday that would include new tax credits for children, seniors and disabled Americans and build thousands of new child-care centers nationwide.

Biden has previously announced different portions of his economic package as they relate to manufacturing and clean energy. Tuesday’s 10-page plan is titled “The Biden Plan for Mobilizing American Talent and Heart to Create a 21st Century Caregiving and Education Workforce.” “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,” it states.

“If we truly want to reward work in this country, we have to ease the financial burden of care that families are carrying, and we have to elevate the compensation, benefits,training and education opportunities for certification, and dignity of caregiving workers and educators.”

The plan offers $8,000 in tax credits for most families with one child and $16,000 for those with two or more children. Partial credits are also available for families in higher tax brackets.

Biden’s plan also would expand after-school, weekend and summer care programs for children and provides pre-kindergarten education at no cost to all 3- and 4-year-old children.

“And, he is proposing to give caregiving workers and early childhood educators a raise and stronger benefits, treating them as the professionals they are,” the proposal adds.

“As a first step, Biden will immediately provide states, tribal, and local governments with the fiscal relief they need to keep workers employed and keep vital public services running, including direct care and child-care services.”

Part of Biden’s 10-year plan would also clear the waiting list for Medicaid home and community services, and pay for hiring 150,000 community healthcare workers.

The campaign said the plan will be paid for by rolling back “unproductive” and “unequal” tax breaks for real estate investors with incomes over $400,000, and by taking steps to “increase tax compliance for high-income earners.”

Biden will expand on the plan Tuesday at a campaign appearance in Delaware.

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