Scaling back his big government-overhaul plans, President Biden has described a more-limited vision to Democratic lawmakers
Scaling down his “build back better” plans, President Biden on Tuesday described a more limited vision to Democratic lawmakers of a $2-trillion government-overhaul package with at least $500 billion to tackle climate change and money for middle-class priorities — child tax credits, paid family leave, healthcare and free pre-kindergarten.
After months of fits and starts, Democrats are growing anxious they have little to show voters despite their campaign promises. Biden’s ideas are all to be funded by tax hikes on corporations and the wealthiest individuals, those earning more than $400,000 a year. Instead, Biden focused in his Tuesday meetings on providing at least $500 billion in tax credits, grants and loans to fight climate change, much of it likely coming from a package compiled by Sen. Ron Wyden , the chairman of the Finance Committee. Those include the tax breaks for energy producers that reach emission-reduction goals.Vice President Kamala Harris visits Nevada to stump for President Biden’s infrastructure and climate agenda.
Failure to act on climate change would have far-reaching consequences in the U.S. and abroad. Inaction, proponents of big efforts say, could cost the U.S. billions of dollars in weather-related disasters and threaten to uproot millions of Americans in hurricanes, wildfires, droughts and floods. Biden wants to extend the $300 monthly child tax credit that was put in place during the COVID-19 crisis for another year, rather than allow it to expire in December.The Biden administration launches a wide-ranging strategy to regulate toxic industrial compounds used in products including cookware and carpets.
Biden also wants to ensure funding for healthcare programs, including new money for home- and community-based healthcare services, supporting a move away from widespread nursing home care.
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