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Biden’s Promise of More Equal U.S. Takes Hit With Spending Plan

  • Support for families, education sought to reduce inequalities
  • Measures may be pared back or scrapped after Manchin says ‘no’
Joe Biden at the White House in Washington, D.C..

Joe Biden at the White House in Washington, D.C..

Photographer: Yuri Gripas/Abaca

President Joe Biden’s promise to reduce income and wealth disparities in the U.S. has suffered a major setback with the collapse of his social-spending bill.  

Early in the pandemic, U.S. policy makers staved off a dramatic increase in inequality with an all-out fiscal response. Biden’s legislation aimed to build on that achievement with about $2 trillion of investments focused on child care, health care and early education -- delivering benefits to lower-income Americans, financed in part by tax increases for wealthier ones.