President Joe Biden called for investment in both people and infrastructure during a speech Wednesday at McHenry County College, his first visit to the state since taking office.
“What I want to talk about today is human infrastructure,” the president said. “It’s essential to that foundation as well. To truly win the 21st Century – and once again lead the world – to truly build an economy from the bottom up and the middle out, to truly deal everybody in this time, we need to invest in our people,” Biden said. “That’s why in addition to the bipartisan infrastructure agreement that I believe we are going to get done, I’m here to make the case for the second critical part of my domestic agenda.”
Unveiled before an April 28 joint session of Congress, the $1.8 trillion American Families Plan sets forth $1 billion for child care, universal pre-K for all 3-4 year-olds, free community college and paid family/medical leave initiatives and offers $800 million in tax cuts for families with children, including an “historic expansion” of the child tax credit which would be allocated monthly.
The American Families Plan extends through 2025 the American Rescue Plan’s Child Tax Credit increases to $3,000 per child 6-years and older and $3,600 per child younger than 6. Under the plan, the top individual tax rate for those earning more than $400,000 annually would increase, as would capital gains taxes.
Biden also outlined his “Build Back Better” agenda and what it could mean for Illinois.
“The Build Back Better plan starts with education,” the president said.
Biden said 12 years of free education was no longer enough to compete with the rest of the world. He said other countries have caught up and America needs to do more. Biden proposed a minimum of 14 years of education. That would include 2 years of free community college for everyone, Biden said.
“And we can afford, I’ll tell you how,” he said.
Biden proposed higher taxes on the wealthy and corporations to pay for the additional education.
This article was originally posted on Biden calls for investment in people, infrastructure