• Biden spoke to the House Wednesday night to address details of his American Families Plan
  • Strong emphasis placed on vaccine rollout—with minimal discussion on the actual budget

President Biden celebrated 100 days in office last night with a scattered House audience to share details of his American Families Plan (AFP). He touched on the four cornerstones of the AFP, a “once-in-a-generation investment” on American youth.

The speech was filled with high hopes and lofty goals—and, not to mention, a strong emphasis on the country’s vaccine rollout—but limited details on tax implications, like the proposed capital gains tax hike, US taxpayers can expect from the new budget.

4 Key Points of American Families Plan

  • Education: “The [AFP] guarantees four additional years of public education for every person in America… add two years of universal high-quality pre-school for every 3- and 4-year-old in America.”
  • Child Care: “We guarantee that low- to middle-income families will pay no more than 7% of their income for high-quality care for children up to the age of 5.”
  • Family and Medical Leave: “The [AFP] will finally provide up to 12 weeks of paid family and medical leave. No one should have to choose between a job and paycheck or taking care of themselves and a loved one – a parent, spouse, or child.”
  • Child Tax Credit: “In March we expanded a tax credit for every child in a family. Up to a $3,000 Child Tax Credit for children over 6 — and $3,600 for children under 6… This will help more than 65 million children and help cut child poverty in half this year. Together, let’s extend the Child Tax Credit at least through the end of 2025.”

Critics have called Biden’s speech a bust, arguing that the lack of budgeting details rendered the president’s progressive agenda as ambitious to conservatives.

Is Biden’s plan idealistic or realistic? Share your thoughts in the comments below, give us a call at 516-541-6549, and stay updated by visiting our website.

Devin McQuillan
Associate, Creative Solutions

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