Biden Unveils Massive Family Aid Plan

“President Joe Biden will unveil on Wednesday a sweeping $1.8 trillion plan to expand educational opportunities and child care for families, funded in part by the largest tax increases on wealthy Americans in decades — the centerpiece of his first address to a joint session of Congress,” Bloomberg reports.

“Called the American Families Plan, Biden’s third major legislative proposal combines $1 trillion in spending with $800 billion in tax cuts and credits for middle- and lower-income families.”

CNN: Here’s what’s in Biden’s $1.8 trillion American Families Plan.

Playbook: “Most of these new spending proposals are popular. Taxing the rich to pay for them is also popular. It’s a formula that has worked well for Biden so far. What isn’t always popular — as Bill Clinton and Barack Obama learned — is making big changes to health care. Fighting the drug lobby and the insurance industry isn’t easy. Which might explain why Biden nixed the Medicare reforms for now.”