Biden’s Plan: Raise Taxes On The Rich, Spend It On Education
The president’s speech to Congress will include proposed tax hikes on wealthy Americans along with free community college and pre-K education.
President Joe Biden will propose spending $1.8 trillion over the next decade to make massive investments in the nation’s education system, and to expand and protect tax credits aimed at the middle class, administration officials said Tuesday night, adding that he would pay for the ambitious agenda with a number of tax hikes aimed at the wealthiest Americans.
Biden is expected to lay out his proposal, dubbed the American Families Plan, in a prime-time speech to Congress on Wednesday.
It faces an uncertain political path forward. While an earlier legislative package from the administration, which focused heavily on infrastructure projects, could attract some support from Republicans, it’s likely this plan ― which is targeted at traditional Democratic priorities such as education and the social safety net ― will rely on the party’s narrow majorities in Congress to stay united.
The centerpiece of the plan is a massive investment in the nation’s education system, including universal, free pre-kindergarten education for all 3- and 4-year-olds and free CONTINUE READING: Biden’s Plan: Raise Taxes On The Rich, Spend It On Education | HuffPost