velshi. we find ourselves in the midst of a major breakthrough of president biden s plan to shore up investments in into our infrastructure. there is much we stand to gain from the hard-fought compromise that the president announced this week, but there is also much that we stand to lose in opportunity costs because the plan has been cut in half in order to reach this compromise. as the democrats try to push this bill over the finish line. let s look at what is in and what s out. let s start with what is still in the bill. you ve got billions of there ares in universal pre-k, elder healthcare, and a child tax credit extended into 2022. clean energy tax credit, expanded health coverage $130 billion for that and hearing services and affordable housing and immigration reform funding. that s all of the stuff that is still in and this stuff is transformational especially when it comes to the funds going to work, clean energy and
immigration reform funding. that is all transformation al. especially when it comes to the funds for clean energy and climate investment. this will be the largest clean energy investment in u.s. history. with billions going to tax credits and resilient investment and incentives for businesses to consume fewer fossil fuels. the $400 billion for child care. that would come out to $24,000 for the 1.6 million preschool age kids in america. democrats actually imagine to get the bill passed and that can put us on par with other countries. let s give you a comparison with how much other countries spend. norway at the top with $30,000 per child. iceland, finland, denmark. $20,000 per child. then the united states.
here s what s interesting about this, right? as you know, as you ve been talking to white house officials in part of a conversation with a senior administration official today talking about next steps, getting this done and how president biden sells this. and they re really framing this as transformational. we can talk about the politics, but let s take a beat and talk about what s in this and what s out of this. what s in this deal, what s in this framework, universal pre-k, more elder care, expanded child tax credit for 2022, investment in climate with clean energy in tax credits, expanded health care coverage, expanded medicare, at least for hearing services, affordable housing, free school meals, and potentially $100 billion for immigration reform funding. here s what s not in. paid family leave, free community college things that president biden campaigned on expanded medicare coverage for dental and vision, as we said, and prescription drug cost reform. so, again, when you lo
latest new proposal. smaller than what they wanted originally, but still one the white house is going to say is the largest investment ever made in a bill of this fashion. and there is some expanded medicare and medicaid coverage. what s notable is what senator bernie sanders and progressives wanted for hearing, dental and vision, not all of those are going to make it in. most notably what s out, there was no mention of paid family leave, that seems to be completely out of this framework. no free community college, there will be some pell grants, there will be investments in affordable housing, free school meals and something that will be interesting to be debated. there will be $100 billion proposed for immigration reform funding but that will be subject to some rules in congress about whether they can actually attach that to this. critical to remind everybody the president is going to lay this out later this morning but the bigger question is can he get his own party behind it first?