President Biden Signs $1.8 Trillion American Families Plan to Boost Education, Childcare and Paid Leave

On April 28, 2023, President Joe Biden signed into law the American Families Plan, a sweeping $1.8 trillion package that includes funding for education, child care, paid leave, and tax credits for families.The plan aims to address the economic challenges facing American families, particularly those in lower-income households. It includes a $200 billion investment in universal pre-K education, as well as an expansion of the child care tax credit and the Earned Income Tax Credit. The plan also includes funding for paid family and medical leave, which would provide up to 12 weeks of paid time off for workers who need to care for a newborn child or a sick family member.In addition to its domestic policy provisions, the American Families Plan also includes a number of tax measures aimed at raising revenue from high-income individuals and corporations. These measures include an increase in the top marginal tax rate for individuals earning over $400,000 per year, as well as a minimum tax on corporations with profits over $2 billion.The American Families Plan is one of several major legislative proposals put forward by the Biden administration in its first year in office. Other proposals include the American Jobs Plan, a $2.3 trillion infrastructure package, and the Voting Rights Advancement Act, which would strengthen federal protections for voting rights..

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