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Biden: Billions for American families to be paid for by corporate America and wealthiest 1 percent

Christian Fernsby |
U.S. President Joe Biden explained his universal pre-kindergarten and free community college to be included in the “American Families Plan,” and said it will be paid for by “corporate America and the wealthiest 1 percent.”

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Topics: BIDEN    AMERICA   

The two-part “Build Back Better” proposal will be split into two packages for Congress to pass.

The first, in remarks delivered to the Yorktown Elementary School, the “American Jobs Plan,” focuses on infrastructure, while the second is aimed at funding Democrats’ domestic policy platform. In order to pay for the package, the federal government would impose new taxes, the administration revealed alongside the plan last month.

Biden defended the tax hike as necessary during his speech Monday, arguing that “we’re in a race. It all starts with access to good education.”

“I often said that children are the kite strings that keep our national ambitions aloft. All those kids, they’re all our children,” the 46th president remarked, defending his high-dollar push to provide an additional four years of taxpayer-funded education to every American child.

“I think it’s about time we start giving tax breaks to working-class families and middle-class families instead of just the very wealthy,” he continued.

“Do we want to give the wealthiest people in America another tax cut or do you want to give every high school graduate the ability to earn a community college degree?”

“It doesn’t add a single penny to our deficit, it’s paid for by making sure corporate America and the wealthiest 1 percent … just pay their fair share. I come from the corporate capital of the world. More corporations are incorporated in the state of Delaware [than] all the rest of the nation combined. And I’m not anti-corporate, but it’s about time they start paying their fair share.”

Biden also mentioned the first lady, who has her doctorate in education and is a community college educator in her private capacity.

“I’ve heard it from Jill a thousand times, ‘Joe, any country that out-educates us will out-compete us,'” he said. “And it’s a fact.”

He then pledged, as he had last week, that his better half would be “deeply involved in leading this effort,” referring to the “American Families Plan.”

The “families” proposal includes $511 billion for education, including universal preschool for 3- and 4-year-olds and free community college, and $225 billion for child care, including a subsidy that would cap expenses for most workers at 7 percent of income.

It also calls for $225 billion to subsidize 12 weeks of paid parental and sick leave and $45 billion more for food stamps and school food programs.

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