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President Joe Biden’s $1.75 trillion Build Back Better framework, announced on Thursday, is a mixed bag.
The measure — a significantly pared-down version of a $3.5 trillion budget resolution that Democrats introduced earlier this year — could be transformative. It would push many states to create a universal preschool program for the first time, spend billions on child care subsidies, and establish a new suite of tax credits to incentivize shifts to clean energy. It would also be paid for with a new 15 percent corporate minimum tax and a new surtax on millionaires and billionaires.
All this, though, falls far short of the expansive vision that Democrats originally had for the legislation, which included long-term investments in paid family leave, free community college, and Medicare coverage of dental and vision services. Because Democrats need all 50 of the caucus’s senators on board to pass the bill via budget reconciliation, significant cuts have been made in the framework to assuage moderate Sens. Joe Manchin (D-WV) and Kyrsten Sinema (D-AZ).
https://www.vox.com/2021/10/28/22748554/biden-budget-build-back-better-democrats-child-care-taxes
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