These are the main measures of his initiative for 1.75 trillion dollars for social and environmental expenses, to which is added an infrastructure plan for 1.2 trillion, in a period of 8 to 10 years.
The free access to a preschool structure Before entering primary school, it would be guaranteed for children between the ages of three and four, which extends free access to more than six million children. The program is funded for six years.
The current tax credit for families with children will be extended in one year to 35 million households.
Biden’s plan includes investments to deal with extreme weather events such as wildfires, droughts and hurricanes.
Green energy tax credits will reach $ 320 billion to promote renewable energy production, transportation and storage, as well as “clean” vehicles for private use and professional use.
The plan proposes to extend until 2025 the tax credits for those who take any of the health coverage options included in the Obamacare, which has served millions of Americans without health insurance since 2010. Its reach will be about three million people.
An investment of 150,000 million dollars is planned for access to housing, even in rural areas of the United States, with the construction of more than a million houses for rent, assistance for paying rent and for obtaining a mortgage loan.
The federal harmonization of parental leave, which depend on the states and corporations, was suppressed, in a major defeat for Biden.
A drug tax reform disappeared as well. The amounts of investment in clean energy was greatly reduced. The idea of a tax on the 700 richest taxpayers to finance these measures was discarded.
A minimum tax rate of 15% is planned for large companies, as well as a surcharge for billionaires and millionaires, in a plan that provides investments to fight tax evasion, which is estimated at about 160,000 million dollars per year in losses of income to the public coffers.
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