Biden Pledges $775 Billion Towards Universal Child and Elder Care
As the US presidential election approaches, candidates have been rampantly shelling out ideas from their tickle trunk of voter bait in order to appear more sincere and caring to the American public – especially during a time of crisis.
And, it appears that Democratic nominee Joe Biden has been doing just that – the former Vice President has recently unveiled a plan to introduce universal elder care and child care at the expense of $775 billion in order to address current shortcomings. Moreover, his economic plan will also introduce universal preschool, cancel waiting lists for community and home services covered under Medicaid, as well as offer a tax credit of up to $8,000 for low-income and middle class families to go towards child care expenses.
In addition, the gaffe-prone candidate also proposes increasing wages for educators and caregivers, as well as push for an increase in union jobs. In order to finance the shiny new economic plan, Biden plans to derive the necessary revenue by imposing new taxes on commercial real estate sales, as well as prevent investors from allocating their losses towards lowering their income taxes.
Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
