President Joe Biden unveiled a new $1.8 trillion stimulus package on Wednesday that looks to extend universal preschool, community college and a new paid leave program, according to CNBC.
- The plan — called the American Families Plan — will include a number of tax hikes to pay for the program.
The new stimulus package — if it’s approved by Congress — would include:
- An extension of the child tax credit through 2025.
- Universal preschool program for children 3 to 4 years old.
- Two years of free community college to all American adults, including “Dreamers.”
- A new national paid family free program, which offers up to $4,000 per month.
The new package has a number of other changes, additions and extensions that you can read over at News Nation Now.
Officials said this is an important move for the entire country, and the billions of investments are worth it, according to CNBC.
- “These are investments that we can’t afford not to make as a country,” a senior administration official told CNBC.
Biden said he would pay for this by increasing tax on wealthy Americans, according to CNN.
- “The tax increases contained in the two economic recovery packages would fully pay for the investments over the next 15 years, according to the White House,” CNN reports.