Home Economy Biden’s $4 Trillion Economic Plan, in One Chart

Biden’s $4 Trillion Economic Plan, in One Chart

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Money directed at families is added to an earlier proposal on infrastructure.

President Biden released the second portion of his economic plan on Wednesday: $1.8 trillion in new spending and tax cuts over 10 years for workers, families and children. That’s on top of the $2.3 trillion infrastructure plan he released at the end of March. Together, here’s what’s included:





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Infrastructure plan $2.3 trillion

Child care

facilities

$25

Families plan $1.8 trillion

Public schools

$100

Amounts on the chart in billions

Buildings and Utilities

Water

systems

$66

Community

colleges

$12

Affordable housing

$213

Expansion of the child, earned-income, and child and dependent care tax credits

$600

Federal

buildings

$10

Roads and

bridges

$115

High-speed

broadband

$100

Eliminate

lead pipes

$45

Tax Credits

Disaster

resilience

$50

Transportation

Veterans

hospitals

$18

I.R.S.

Electric vehicle

incentives

$174

Road

safety

$20

Waterways

and ports

$17

Electric grid and

clean energy

$100

Investments

to collect more

revenue

$80

A.C.A premium

tax credit expansion

$200

Airports

$25

Passenger and

freight railways

$80

Other

$35

Public transit

$85

Community

investment

$20

Underserved

communities

$20

Paid family and

medical leave

$225

H.B.C.U.s

$25

Nutrition

programs

$45

Innovation

$14

Research

infrastructure

$40

Supply

chain

support

$50

Child and Family

Support

Underserved

places $12

Completion

and retention

$62

Climate

technology

$35

In-Home Care

Jobs and

Innovation

Child care

$225

Care for people with

disabilities and older adults

$400

Colleges and

universities

serving minority

groups $46

Two years of

free community

college

$109

Dislocated

workers

$40

Domestic

manufacturing

$52

Pandemic

prep $30

Rural

areas $5

Teachers

$9

Semi-

conductor

industry

$50

R&D

$30

National

Science

Foundation

$50

Pell grants

$85

Education

Free universal

preschool

$200

Small

businesses

$31

Clean

energy

$46

Work force

development

$48

Infrastructure plan $2.3 trillion

Families plan $1.8 trillion

Child care

facilities

$25

Public schools

$100

Amounts on the chart in billions

Buildings and Utilities

Water

systems

$66

Community

colleges

$12

Affordable housing

$213

Expansion of the child, earned-income, and child and dependent care tax credits

$600

Federal

buildings

$10

Roads and

bridges

$115

High-speed

broadband

$100

Eliminate

lead pipes

$45

Tax Credits

Disaster

resilience

$50

Veterans

hospitals

$18

Transportation

I.R.S.

Electric vehicle

incentives

$174

Road

safety

$20

Waterways

and ports

$17

Electric grid and

clean energy

$100

Investments

to collect more

revenue

$80

A.C.A premium

tax credit expansion

$200

Airports

$25

Passenger and

freight railways

$80

Other

$35

Public transit

$85

Community

investment

$20

Underserved

communities

$20

Paid family and

medical leave

$225

H.B.C.U.s

$25

Nutrition

programs

$45

Innovation

$14

Research

infrastructure

$40

Completion

and retention

$62

Supply

chain

support

$50

Child and Family

Support

Underserved

places $12

Climate

technology

$35

In-Home Care

Child care

$225

Jobs

Care for people with

disabilities and older adults

$400

Colleges and

universities

serving minority

groups $46

Dislocated

workers

$40

Two years of

free community

college

$109

Domestic

manufacturing

$52

Pandemic

prep $30

Rural

areas $5

Teachers

$9

Semi-

conductor

industry

$50

R&D

$30

National

Science

Foundation

$50

Pell grants

$85

Education

Free universal

preschool

$200

Small

businesses

$31

Clean

energy

$46

Work force

development

$48

Infrastructure plan $2.3 trillion

Families plan $1.8 trillion

Buildings

and Utilities

Tax Credits

$689 billion

$800

I.R.S.

Transportation

$80

$621

Child and

Family Support

$495

In-Home

Care

Jobs and

Innovation

$400

Education

$511

$578

Families plan detail

Amounts on the chart in billions

Expansion of the child, earned-income, and child and dependent care tax credits

$600

Tax Credits

I.R.S.

Investments

to collect more

revenue

$80

A.C.A premium

tax credit expansion

$200

Paid family and

medical leave

$225

Nutrition

programs

$45

Child and Family

Support

Completion

and retention

$62

Child care

$225

Colleges and

universities

serving minority

groups $46

Two years of

free community

college

$109

Teachers

$9

Pell grants

$85

Education

Free universal

preschool

$200

Infrastructure

plan detail

Child care

facilities

$25

Public schools

$100

Amounts on the chart in billions

Buildings and Utilities

Water

systems

$66

Community

colleges

$12

Affordable housing

$213

Federal

buildings

$10

High-speed

broadband

$100

Roads and

bridges

$115

Eliminate

lead pipes

$45

Veterans

hospitals

$18

Disaster

resilience

$50

Transportation

Electric grid

and clean

energy

$100

Road

safety

$20

Electric vehicle

incentives

$174

Waterways

and ports

$17

Airports

$25

Community

investment

$20

Public transit

$85

Passenger and

freight railways

$80

Underserved

communities

$20

Other

$35

H.B.C.U.s

$25

Research

infra-

structure

$40

Innovation

$14

Underserved

places $12

Supply

chain

support

$50

Climate

technology

$35

In-Home Care

Jobs

Care for people with

disabilities and older

adults

$400

Dislocated

workers

$40

Domestic

manufacturing

$52

Pandemic

prep $30

Semi-

conductor

industry

$50

R&D

$30

National

Science

Foundation

$50

Small

businesses

$31

Clean

energy

$46

Work force

development

$48

Infrastructure plan $2.3 trillion

Families plan $1.8 trillion

Child care

facilities

$25

Amounts on the chart in billions

Public schools

$100

Buildings and Utilities

Water

systems

$66

Community

colleges

$12

Affordable housing

$213

Expansion of the child, earned-income, and child and dependent care tax credits

$600

Federal

buildings

$10

Roads and

bridges

$115

High-speed

broadband

$100

Eliminate

lead pipes

$45

Tax Credits

Disaster

resilience

$50

Veterans

hospitals

$18

Transportation

I.R.S.

Electric vehicle

incentives

$174

Road

safety

$20

Waterways

and ports

$17

Electric grid and

clean energy

$100

Investments

to collect more

revenue

$80

A.C.A premium

tax credit expansion

$200

Airports

$25

Passenger and

freight railways

$80

Other

$35

Public transit

$85

Community

investment

$20

Underserved

communities

$20

Paid family and

medical leave

$225

H.B.C.U.s

$25

Nutrition

programs

$45

Innovation

$14

Research

infrastructure

$40

Completion

and retention

$62

Child and Family

Support

Supply

chain

support

$50

Underserved

places $12

Climate

technology

$35

In-Home Care

Child care

$225

Jobs

Care for people with disabilities

and older adults

$400

Colleges and

universities

serving minority

groups $46

Dislocated

workers

$40

Two years of

free community

college

$109

Domestic

manufacturing

$52

Pandemic

prep $30

Rural

areas $5

Teachers

$9

Semi-

conductor

industry

$50

R&D

$30

National

Science

Foundation

$50

Pell grants

$85

Education

Free universal

preschool

$200

Small

businesses

$31

Clean

energy

$46

Work force

development

$48


Note: The plan released by the White House did not include estimated costs for the expansion of the child tax credit, earned-income tax credit, or child and dependent care tax credit. The $600 billion estimate is the difference between the total tax cuts mentioned in the plan ($800 billion) and the $200 billion included for Affordable Care Act premium tax credits.

Source: The White House

Most of the spending and tax cuts in Wednesday’s proposal is directed at families, with provisions for a national paid family and medical leave program; child care subsidies; and extensions of several tax credit expansions from the most recent Covid-19 relief law.

Newly proposed education spending includes universal prekindergarten for 3- and 4-year-olds; two years of free community college; an increase in the maximum Pell Grant award; and investments in colleges and universities serving minority groups.

The plan also calls on Congress to adjust the unemployment insurance system so that it would automatically link the length and amount of benefits to economic conditions.

The president intends to pay for the infrastructure portion of the plan with 15 years of higher taxes on corporations.

The proposal announced Wednesday would be financed partly through tax increases on the wealthiest Americans. Part of that strategy is to give more money and enforcement power to the Internal Revenue Service to crack down on tax evasion.