Presumptive Democratic nominee Joe Biden has released the third installment of his economic plan — a $775 billion recovery proposal aimed at creating 3 million new jobs in caregiving services.
The plan, unveiled Tuesday by the campaign, boasts universal preschool for children ages 3 to 4, tax credits for low- and middle-income families for child care costs, Social Security credits for people who care for loved ones, increases in pay for caregivers and early childhood educators and the elimination of waiting lists for Medicaid services.
The proposal says the $775 billion would be spent over 10 years, though the campaign did not specify how the plan would fully be financed.
The campaign did, however, pledge to roll back the “unproductive and unequal” tax breaks for real estate investors with incomes over $400,000, as well as to take steps to increase tax compliance for high-income earners.
The former vice president’s campaign says Biden, if elected, would immediately provide financial relief to state, tribal and local governments to keep workers employed and keep public services running.
“Once we are able to move from relief to recovery, Biden will make substantial investments in the infrastructure of care in our country — to make child care more affordable and accessible for working families, and to make it easier for aging relatives and loved ones with disabilities to have quality, affordable home- or community-based care,” part of the plan reads.
Last week, Biden outlined his plan for a green economic recovery with a focus on environmental concerns.
Both with this newest plan and the one before it, Biden’s efforts are part of a larger attempt to take advantage of current events to shift the campaign focus to the economy, arguably one of President Trump’s strongest arguments for re-election.
Speaking last Monday to donors, Biden remarked that climate change was not only an “existential threat to humanity,” but could be “the very answer to get us out of this economic situation we’re in.”
In the coming weeks, the Biden campaign will roll out two initiatives to support economic growth and recovery, according to The Hill.
Sometime in the next few weeks, Biden will unveil another proposal, this one focused on advancing racial equity across the nation, the outlet reported.
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