President Joe Biden is going to unveil details of his $1.8 trillion "American Families Plan" during his first address to a joint meeting of Congress on Wednesday (April 28) night.
The proposal calls for $1 trillion in new spending and $800 billion in tax credits with the goal of making childcare and education affordable for all families. The plan will provide $300 billion for universal preschool for all three and four-year-old children and $109 billion to make the first two years of community college free. It will also double the maximum amount of money awarded through the Pell Grant program, which helps cover the cost of higher education for roughly seven million students.
The plan will address the rising cost of childcare, provide paid family leave, and help schools across the country recruit new teachers. The proposal will also extend the expanded child tax credit through 2025, permanently extend subsidies for people who purchase healthcare on the federal Affordable Care Act exchange, and make the earned income tax credit for workers without children permanent.
"These are generational investments in our future, in the future of our families, and the future of our kids," a senior administration official told CNN. "They pay enormous dividends."
You can watch the address on all major TV networks, including ABC, CBS, Fox, NBC, and C-SPAN at 9 pm ET/6 pm PT. You can also listen to the speech on iHeartRadio.
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