Projected cost of new spending program is $1.5 trillion.
The White House is drafting a plan focused on helping American families that will be proposed later this month. The package, known as the American Families Plan, is expected to include $1 trillion in new spending and $500 billion in new tax credits. The proposal would join the $2.3 trillion American Jobs Plan and follow a $1.9 trillion stimulus bill approved last month.
Where the American Jobs Plan includes funds for traditional infrastructure, nationwide broadband, and clean-energy projects, the Families Plan will focus on social assistance. The plan would include funding for child-care support, paid family and medical leave, universal pre-K schooling, education funding, and nutritional assistance.
“No recovery will be complete until our tax code provides a sustained pathway to economic prosperity for working families and children,” Senators Sherrod Brown, Cory Booker, and Michael Bennet, along with Representatives Rosa DeLauro, Suzan DelBene, and Ritchie Torres said in a statement Tuesday. “Permanent expansion of the CTC [child tax credit] will continue to be our priority.”
The plan’s details may be released in the president’s address to a joint session of Congress on April 28.
As the Lord Leads, Pray with Us…
- For wisdom for Congress as the American Family Plan is proposed by the administration.
- For discernment for legislators regarding the cost of another spending program.
- For the president, his advisors, and aides as they prepare his address to the joint session of Congress.
Sources: Business Insider, Washington Post
