Biden’s new plan might get you $14,800 in stimulus payments – here’s how it works

bgrpro65 mai 06, 2021

At the moment, President Biden is trying to pull of something much harder -- and potentially much more beneficial to working families -- than the uphill battle of convincing Congress to authorize a new round of stimulus checks. Specifically, the president is trying to build support for passage of an all-new stimulus bill, his second stimulus legislation in three months to carry a price tag of more than $1 trillion, with this new bill poised to transfer a staggeringly large amount of wealth from the federal government to taxpayers.

Forget one-time, $1,400 stimulus checks. The so-called "American Families Plan," which Biden proposed in an address to Congress at the end of April, would save the average family $14,800 per year in child care costs, among other proposed benefits. Complicating matters, though, is the fact that a new analysis from the Penn Wharton Budget Model is that the American Families Plan would actually cost $700 billion more than the $1.8 trillion the Biden administration originally said it would cost. Let's take a closer look at what's in the legislation.