Biden's New $1.8 Trillion American Families Plan to be Released This Week

[Frodo]

Considering all the right people hate this plan already, you know it's gotta be good:

White House’s new $1.8 trillion ‘families plan’ reflects ambitions — and limits — of Biden presidency

The “American Families Plan,” set to be released ahead of the president’s joint address to Congress on Wednesday, calls for devoting hundreds of billions of dollars to national child care, prekindergarten, paid family leave and tuition-free community college, among other domestic priorities. It will be at least partially funded by about a half-dozen tax hikes on high-income Americans and investors, proposed changes that are already provoking fierce opposition in Congress and on Wall Street.

White House officials spent much of the past week making refinements to the plan, showing the enormous pressure they are under to include or discard key items as they attempt to satisfy a range of competing voices.

In a potential last-minute change, White House officials as of Friday were planning to include about $200 billion to extend an increase in health insurance subsidies through the Affordable Care Act exchanges, according to three people who spoke on the condition of anonymity to reveal internal discussions.

[H.E. VOLODYMYR ZELENKSYY]

Can we squeeze the public option in too, or would that raise too much anger among GOP pundits and the weird people who listen to them?

[Matty]

I don't necessarily oppose some of the stuff that would be funded, but, as even some center-left economists have come out and already stated, the issue is that the capital gains tax would be increased to a level that would likely cause tax receipts to decrease, not increase.

Also, in my opinion, making community college tuition free is a mere band aid. It does nothing to address the increase in tuition, it merely shifts who is paying for it. Also, it may even incentivize colleges to increase tuition even more, knowing the govt will pay whatever the college bills it

The pre-k and childcare stuff is more commendable, but I will have to see details.

[H.E. VOLODYMYR ZELENKSYY]

Also wait, hold on, is the American Families Plan the new reconciliation bill, and the American Jobs Plan is the infrastructure bill that they’re gonna try and get 60 votes for?

[Matty]

Also wait, hold on, is the American Families Plan the new reconciliation bill, and the American Jobs Plan is the infrastructure bill that they’re gonna try and get 60 votes for?

It'll be reconciliation for both.

[H.E. VOLODYMYR ZELENKSYY]

Also wait, hold on, is the American Families Plan the new reconciliation bill, and the American Jobs Plan is the infrastructure bill that they’re gonna try and get 60 votes for?

It'll be reconciliation for both.

Oh, right, with the special extra vote the parliamentarian gave them.

I wish they’d use it for more structural reforms, but I guess that’s not really within the rules of reconciliation.