President Joe Biden to introduce $1.8 trillion investment for American Families Plan
President Joe Biden tweeted that he will introduce the American Families Plan this week- a historic bill aiming at a $1.8 trillion dollar investment into the country’s economy and expanding anti-poverty measures. Domestic Policy Advisor, Susan Rice described the bill as a once-in-a-generation investment for providing significant support to America’s backbone, the middle-class families and children.
This week, I introduced the American Families Plan. It’s a historic bill that will make transformational investments in families and rebuild the backbone of this country — the middle class. I asked Susan Rice, Domestic Policy Advisor, to explain more: pic.twitter.com/Hxcpmexko6
— President Biden Archived (@POTUS46Archive) April 30, 2021
This bill will primarily aim at providing funds for education and healthcare by taxing high-income Americans, with Rice revealing in the tweet, “We need to make Americans understand how we will pay for this. We will pay for this by making the richest Americans pay for their fair share in taxes.”
“However, it’s also important to note that nobody earning less than $400,000 will see their taxes go up”, Rice said.
Biden administration believes the plan to leave an indelible remark on America’s education with two years of free preschool for 3 and 4-year-old kids and two years of Community College.
With regards to healthcare, those Americans that can purchase their own health care plans would be saving in the form of Reduced Health Care premiums covered under the plan, for those signing or are already registered under the ACA (The Affordable Care Act), a comprehensive healthcare reform signed into law by President Barack Obama in March 2010.
The plan also covers a wide range of provisions aimed at supporting Americans in child care, family leaves with Rice saying, “Families earning 150% or less of the state median income would never have to pay more than 7% of their income in child care.”
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