Top Line

The House on Friday passed one of the largest social spending proposals in history to help “restore the middle class” to help tackle many of Democrats’ policy priorities — including free universal preschools for children. And an extended child tax credit is included—and even if the bill would. The Senate has almost certainly made changes to appease spending-hesitant moderates, adding it to the package after months of tense talks here.

important facts

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The House-passed version of the Build Back Better Act would authorize $1.75 trillion in spending over ten years, a $3.5 trillion proposal Biden unveiled in August due to opposition from two moderate Senate Democrats, whose votes would be crucial to the legislation. Pass in an evenly divided chamber.

Topic 2,468-page The bill is expected to spend $400 billion to help provide subsidized childcare and tuition-free preschool for 3- and 4-year-olds, and $555 billion for the Clean Energy Initiative for more than 6 million children, including Americans. That includes $320 billion in tax credits to help pay the U.S. Eco friendly home improvement.

The proposal taps $200 billion to extend the U.S. Rescue Plan’s extension of the child tax credit through the end of 2002, with $250 in monthly payments for each child age 17 and younger to eligible families. Provides an additional $50 per month for children under the age of Rs. of 6; The Center on Budget and Policy Priorities estimates that the credit applies to approximately 65 million children.

Democrats have also included $300 billion to expand the existing Medicaid program for elderly care at home and invest in public housing and rental and down-payment assistance.

Another $165 billion will help reduce premiums for the nearly 9 million Americans covered under the Affordable Care Act and expand Medicare to cover hearing benefits.

Rounding out the bill’s investments, nearly $130 billion is allocated for community college workforce training programs, maternal health, community violence programs, and higher education, with a maximum of $550 in Pell Grants awarded to undergraduates in financial need. growth is included.

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