The Washington Post has the details.
The White House on Wednesday unveiled a $1.8 trillion spending and tax plan aimed at dramatically expanding access to education and safety-net programs for families, the latest effort by President Biden to try to turn some of his campaign promises into new policy.
A trillion here, a trillion there, and pretty soon you’re talking about real money. You have your $1.9 trillion for stimulus, your $2.3 trillion for infrastructure, and now your $1.8 trillion for goodies for the family (details in a moment). By my math, that’s a cool $6 trillion.
The national debt today is over $28 trillion.
$28,143,004,395,360.31 (+) #NationalDebt
— National Debt Tweets (@NationalDebt) April 27, 2021
So, what are we supposed to spend this money on?
Biden’s plan proposes a suite of domestic policies that would collectively represent a marked change in how Americans interact with the federal government.
The White House says its proposal would provide every American with two years of tuition-free community college; prekindergarten for all 3- and 4-year-olds; and paid family and medical leave for American workers. Among its sweeping agenda items, the plan also calls for devoting hundreds of billions of dollars to fighting child poverty and ensuring affordable child care nationwide.
To pay for these initiatives, White House officials are also proposing $1.5 trillion in tax hikes aimed primarily at increasing the amount paid by wealthy Americans and investors. The White House aims to raise money through a sizable increase in enforcement by the Internal Revenue Service, as well as approximately doubling the capital gains tax rate for those earning more than $1 million per year — a measure that would apply to a small fraction of Americans but is likely to face resistance on Capitol Hill.
Ivanka was a big fan of the paid family leave, so we at least have some continuity there.
The article adds: “The president also proposes subsidizing tuition for students from families earning less than $125,000 enrolled at historically Black institutions, tribal colleges and other minority-serving institutions for two years.” Regular readers know my fondness for allocating government benefits on the basis of race, so this is just lovely.
Biden’s giving a big speech tonight. I do not watch tripe like that, so you guys will have to let me know how it went.