Paid Time Off, Clean Energy, Preschool – US $ 3.5 trillion Plan
Democrats in the US Senate unveiled a large overview of a $ 3.5 trillion spending plan which, according to the White House, would finance large investments in clean energy and families while tax the highest incomes and the best companies in the country to pay for it.
The plan includes universal kindergarten funding for all Americans, providing legal status to immigrants and investments in electric vehicle infrastructure.
Here’s a look at what they’ve disclosed in the legislation so far, broken down by the congressional committees tasked with drafting the eventual legislation:
$ 726 billion to the Committee on Health, Education, Workforce and Pensions, which would serve to provide universal preschool for all 3 and 4 years old, two years of community college with no tuition fees, childcare for working families and increase the maximum amount of the Pell Scholarships, a federal grant that helps low-income students pay for their college education.
$ 332 billion to the Committee on Banking, Lodging, and Urban affairs, aiming to create and preserve affordable housing in cities, suburbs and rural areas.
198 billion dollars to the Committee on Energy and Natural resources, to offer direct payments to public services to strike clean energy goals, consumer rebates to make homes more low consumption and financing for the domestic manufacture of clean energy and automotive supply chain technologies.
$ 135 billion to the Committee on Agriculture, Nutrition, and Forestry for, among other things, the financing of the Civilian Climate Corps, which would employ thousands of young people to face the threat of climate change and strengthen the country’s natural defenses.
107 billion dollars to the committee Judicial, to find a way to provide permanent status to skilled immigrants. This is one of the many proposals that will need the approval of the parliamentarian of the Senate, the arbiter of policies that can be adopted through reconciliation.
83 billion dollars to the Committee on Trade, Science, and Technology finance investments in technology, transport and research, as well as helping coastal communities adapt to stronger storms and rising seas.
$ 67 billion to the Committee on Environment and Public works to fund a clean energy technology accelerator that would fund affordable costs and other climate friendly technologies, investments in drinking water and taxation royalties on methane emitters to reduce carbon emissions.
$ 37 billion to the Committee on Internal security and Government Affairs to electrify the federal fleet and improve cybersecurity infrastructure.
$ 25 billion to the Committee on Small business and Entrepreneurship to help small businesses secure access to credit and investment.
$ 20.5 billion to the Committee on Indian affairs for health, education and housing programs for Native Americans.
$ 18 billion to the Committee on Veterans Affairs for upgrades to VA installations.
The Senate Finance Committee will be responsible for identifying ways to reduce the deficit to help finance paid family and medical leave, expand the Affordable Care Act, develop Health Insurance include dental, vision, hearing benefits and lower the age of eligibility, extend the child tax credit and provide relief for taxpayers who can no longer deduct more than the $ 10,000 they spent on state and local taxes, known as SALT, from the income on which they must pay federal taxes.
It will be paid in bulk double the tax rate paid by high incomes on their investment income To 39.6% of 20% and lifting the highest tax rate on ordinary income at 39.6% of 37%.
Increase the corporate tax rate And put a minimum tax on foreign income as part of an overall minimum tax.
Increased oversight of high-income taxpayers to the Internal Revenue Service.
Impose a carbon polluter import tax on companies bringing goods into the country.