Bloomberg Tax has published a summary of the key tax provisions of the Biden $1.8 Trillion Spending Plan. The article begins as follows:Plan includes funding for child care, education, tax credits
Plan includes funding for child care, education, tax credits
Biden would pay for plan with higher taxes, focused on wealthy
President Joe Biden’s administration on Wednesday unveiled a $1.8 trillion, 10-year plan to ramp up federal support for American families, with a major expansion in spending on child care, paid leave and education.
The “American Families Plan,” which Biden will tout in a joint address to Congress Wednesday night, is funded in part by $1.5 trillion of tax hikes on the wealthiest Americans. The proposals still face major changes in Congress, with Republicans set against higher taxes and Democrats having their own priorities.
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.