What’s In Biden’s $3.5 Trillion Plan

Washington Post: “The proposal is expected to lay the groundwork for hundreds of billions of dollars in new spending for elder care, home care, child care, prekindergarten, paid family and medical leave, housing programs, and other education and safety net programs. The plan would also clear the way for hundreds of billions of dollars — and possibly close to $1 trillion — in climate-related legislation, including clean energy tax credits and more funding for electric vehicles.”

“The emerging plan would also include an at least $300 billion expansion of Medicare… to cover dental, vision, and hearing care… Under the plan, these new benefits would be free for seniors in the program, which could start as soon as next year.”

“To pay for these changes, Congressional Democrats are pursuing a slew of tax hikes on the rich and corporations, as well as major changes to the IRS to close the ‘tax gap’ … Other major new sources of revenue include raising the top marginal tax rate, increasing the corporate tax rate, and changes to the international tax system.”