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 toward clearing the backlog for those awaiting 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.
Biden’s plan also says immediate action is needed by the Trump administration to get emergency funds to child care centers during the coronavirus pandemic.
“President Trump has failed to effectively respond to the caregiving crisis for months, while exacerbating it by letting the virus continue to spread,” the document says, according to CNN.
“He should immediately work with Congress to provide emergency relief to save child care centers and family child care providers and support child care workers. This urgent action is critical to investing in the care and education of our youngest children and ensuring that parents and guardians have the support they need to return to work when it is safe to do so.”