Biden to announce $775 billion plan creating jobs for caregivers, early educators

Source: The Hill

Former Vice President Joe Biden on Tuesday will propose a plan to stimulate the “caregiving economy” with tax credits for people who care for seniors, disabled people and children, according to multiple reports.

The presumptive Democratic presidential nominee’s speech in New Castle, Del., will also call for the construction of thousands of new child-care facilities. The Biden campaign estimated a price tag for his proposal of $775 billion over a decade, saying Biden would offset the costs by ending tax cuts for real estate investors who make over $400,000 and “increas[ing] tax compliance for high-income earners."

The Biden campaign would put $450 billion towards clearing the backlog for those awaiting home and community services for Medicaid home and community services, CNN reported, with the campaign saying the more than 800,000 people on the waitlist are currently waiting up to five years.

A Biden presidency would also pay to hire 150,000 new community health care workers, as well as offering a $5,000 tax credit for those who take unpaid care of family members. The plan would also offer $8,000 tax credits for early childhood education for single-child families and $16,000 for families with two or more children.

Read more: https://thehill.com/homenews/campaign/508249-biden-to-announce-775-billion-plan-creating-jobs-for-caregivers-early