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According to the Biden Administration, a main feature of its “Families Plan” would be “tax cuts for America’s families and workers,” asserting its plan would offer “key tax cuts…that benefit lower- and middle-income workers and families.”REF
In reality, the Biden “child allowance” plan would offer no long-term tax relief to families with children. Even in the short term, some 74 percent of aid would go for cash grants to families who owe no income tax; only 26 percent would go for tax relief. But even this limited tax relief would be temporary: The plan’s permanent provisions, in fact, would provide zero tax relief to families with children. All permanent assistance would be restricted to cash grants for families without tax liability.
where the risk comes is the magnitude of these expansions just who s getting benefit. you mentioned this expansion is the largest since the great society. this expansion is different than the great society expansion. if you set medicare aside, great society expansions were primarily in programs for the poor. what we are seeing here in the biden family plan is expansion of programs designed primarily for the middle class. we estimate about 40% of all the entitlement benefits under the biden family plan will end up going to individuals in the upper half of the income distribution so it s basically middle-class entitlement program and would be especially hard to repeat later on.
6:59 P.M. EDT
THE PRESIDENT: Reid, thank you. Thank you, thank you, thank you for hosting this event and for your generous support. I might note that I was saying to you when I got to speak to you a few minutes earlier that, you know, you haven’t even we haven’t even sat down with each other. You know, anybody who contributed and raised as much funds as you did, everybody expects to be knocking on my door for you never asked me for a single thing. You’ve raised an enormous amount of money, and you said, “The reason why we haven’t gotten together, Mr. President, is because we didn’t want to distract you. We want you to keep going.” And I’m like I really mean it. I hope everybody understands that about almost all of you on this call. And I want to thank you for your incredible support.
Joe Biden Prepared To Compromise With Republicans As Infrastructure Bill Gets Rolling
05/13/21 AT 4:39 PM
As Joe Biden begins laying the groundwork for his massive infrastructure bill, he signaled a willingness Thursday to compromise with Republicans. While that may increase his chances of getting it through Congress’ razor-thin margins, supporters are worried it will only embolden Sen. Mitch McConnell, R-Ky., to stonewall the bill entirely.
Biden’s comments came as he met with six Republican senators to discuss his almost $2 trillion plan. He said the senators, including as smaller bill advocate Sen. Shelley Moore Capito, R-W.Va., were coming in “good faith.”