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Biden Unveils Massive Family Aid Plan Funded by Taxing Rich

  • President to propose $1.8 trillion ‘American Families Plan’
  • Education expansions, tax cuts financed by tax hikes on rich
Bloomberg business news
Biden to Unveil American Family Plan Funded by Taxing Wealthy
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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.

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.