Study: Joe Biden's American Families Plan Would Cost 1 Million Jobs

Study: Joe Biden's American Families Plan Would Cost 1 Million Jobs


President Joe Biden used his first address before a joint session of Congress Wednesday evening to talk about the “American Families Plan” for low- and middle-income families.

Biden mentioned his “American Families Plan” will give affordable child care, guarantee that low- and middle-income families will not have to pay “more than seven percent of their income for high-quality care for children up to the age of five,” and “expand the tax credit for every child in a family.” This would provide “up to $3,000 in a ‘child tax credit’ for children over six and up to $3,600 for children under six.” In addition, for two parents with two kids, the tax credit would be up to $7,200 “to help take care of your family,” Biden said.

To pay for the plan, Biden would increase taxes on the wealthy and investors and boost tax enforcement at the IRS. According to another report, the Biden administration is set

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