The new Child Tax Credit enacted in the American Rescue Plan is only for 2021. That is why President Biden strongly believes that we should extend the new Child Tax Credit for years and years to come. That’s what he proposes in his American Families Plan.
White House American Families Plan
Right now, too many Americans are struggling to meet basic needs and cover basic expenses. An economy that fails so many of us is not only unfair, it’s unsustainable. The American Families Plan is a once-in-a-generation investment in the foundations of middle-class prosperity – education, health care, and child care. It recognizes that policies to make life easier for American families must focus on bringing everyone along: inclusive of gender, race, or place of residence – urban, suburban, or rural. Beyond helping American families meet the needs of today, this plan powers the innovation and growth of tomorrow.
Here’s what the American Families Plan will do:
Make Education More Affordable And Expand Opportunity
Investing in education is a down payment on the future of America. The American Families Plan will make transformational investments from early childhood to postsecondary education so that all children and young people are able to grow, learn, and gain the skills they need to succeed.
The American Families Plan will provide:
- Two free years of community college for millions of Americans;
- Universal access to high-quality, free Pre-K for 3- and 4- year-olds;
- Lower college costs for low-and middle- income students at Historically Black Colleges and Universities (HBCUs), Tribal Colleges and Universities (TCUs), and institutions such as Hispanic-serving institutions (HSIs), Asian American and Native American Pacific Islander-serving institutions (AANAPISIs), and other minority-serving institutions (MSIs);
- An increase of up to approximately $1,400 in Pell Grants and allowing DREAMers to access the funding;
- Provide support to students to increase retention and completion; and
- A $9 billion investment to strengthen teacher pipelines and address shortages, increase the number of teachers of color, and support the growth of teachers.
Provide Economic Security For Families
Our nation is strongest when everyone has the opportunity to join the workforce and contribute to the economy. But many workers struggle to both hold a full-time job and care for themselves and their families.
The American Families Plan will:
- Ensure no one earning under 150% of state median income has to pay more than 7% of their income on high-quality care for children under 5
- Provide comprehensive paid family and medical leave, allowing workers to take the time they need to care for a new child, their own serious illness or a seriously ill loved one
- Expand nutrition assistance, including school meal programs and the summer nutrition benefit program, for children and families.
- Invest $3 billion in maternal health
Expand Tax Credits That Helps Workers And Families
The American Families Plan is an ambitious, once in a generation investment to rebuild the middle class and invest in America’s future.
Alongside the American Families Plan, President Biden is proposing a tax reform agenda that rewards work – not wealth. The agenda includes the reversal of many tax giveaways from the 2017 tax law, as well as reforms to the tax code to ensure that the wealthy will play by the same rules as everyone else. The resulting revenue will pay for the American Families Plan investment in education and childcare, tax relief for American families, and reduction in child poverty.
The American Families Plan is an ambitious, once in a generation investment to rebuild the middle class and invest in America’s future.
Alongside the American Families Plan, President Biden is proposing a tax reform agenda that rewards work – not wealth. The agenda includes the reversal of many tax giveaways from the 2017 tax law, as well as reforms to the tax code to ensure that the wealthy will play by the same rules as everyone else. The resulting revenue will pay for the American Families Plan investment in education and childcare, tax relief for American families, and reduction in child poverty.
Contact Your Senator To Provide Your Opinion NOW
Recent Comments