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Build Back Better 3.5T Bill

Lesh

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What's in it and how is it paid for..

What's in the Build Back Better Act:​

  • Two free years of community college
The legislation provides two years of free community college for all students, regardless of family income. It is anticipated to cost $108 billion.

The bill would also add $80 billion in funding for Pell Grants, which Democrats say hasn't kept pace with the increasing cost of college.

  • Child care and universal pre-K
Every family that applies shall be offered child care assistance for children ages 0 to 5. In all, the plan allocates roughly $450 billion to lower the cost of child care and provide two years of universal pre-K for 3- and 4-year-olds, according to the House Education and Labor Committee.

The panel estimated that this proposal would keep the cost of child care at or below 7% of most families' income.

  • Medicare expansion
This heavily debated provision would expand Medicare to include coverage of dental, hearing and vision services.


Manchin believes the program's solvency should be addressed before it is expanded.

"We need to stabilize it," he told reporters Friday, according to reports. "By 2026, you understand, the trust fund is going to be insolvent."

  • Extended child tax credit
Democrats expanded the child tax credit for 2021 in their $1.9 trillion COVID-19 relief plan, and now want to extend it through 2025.

Under the enhancement, families receive $3,600 per child under age 6, and $3,000 per child age 6 to 18. Most families receive monthly payments of either $250 or $300 per child.

The full expanded child tax credit is available to individuals making up to $75,000 or married couples making up to $150,000.

While Mr. Biden has touted the tax credit's success in lifting children out of poverty, Manchin thinks Democrats' social spending package should impose work requirements for parents who qualify.

"You want to help the children and the parents that are basically providing for those children. There's no work requirements whatsoever. There's no education requirements whatsoever for better skill sets," he told CNN in an interview this month. "Don't you think, if we're going to help the children, that the people should make some effort?"


The House Ways and Means Committee has also endorsed permanent expansions of the earned income tax credit and child and dependent care tax credit.

  • Cut prescription drug prices
Another key provision in the bill is aimed at helping to slash prescription drug prices. Americans on average pay two to three times as much as people in other countries for prescription drugs, according to the White House. Among other things, the legislation allows Medicare to negotiate drug prices. Medicare is currently prohibited by law from negotiating for the best deal.

  • Paid family and medical leave
For the first time in history, the U.S. would have comprehensive paid leave, covering 12 weeks of paid family and medical leave. The legislation would replace at least two-thirds of earnings, up to $4,000 per month, while the lowest-paid workers would receive 80% of their income.

The White House has previously estimated the plan would cost $225 billion over the next 10 years.

  • Climate change
Combating climate change and slowing the rate at which Earth warms will mean transitioning away from fossil fuels, the major source of greenhouse gas emissions.

One provision that Manchin has objected to is the $150 billion "clean electricity performance program," which would pay utility companies that increase their renewable energy supplies by 4% per year. Companies that do not hit this benchmark would face financial penalties. The bill also provides significant funding for forest management and other wildfire control measures.

There are also measures to incentivize the buying of electric vehicles and the construction of charging stations; consumer rebates to homeowners who weatherfit their houses; and financial penalties for oil and gas producers for methane leaks, among other things.

  • Lesser-known provisions
The massive bill has a slew of lesser-known provisions as well.


For instance, the bill would authorize $5 million a year for the Small Business Administration for an entrepreneurial program for formerly incarcerated individuals.

The bill also directs $2.5 billion for the Justice Department to award competitive grants or contracts to local governments, community-based organizations and other groups to support intervention strategies to reduce community violence.

How they plan to pay for it​

Democrats have also included a tax plan to pay for the provisions in the bill.

The corporate tax rate would rise from 21% to 26%, and the top income tax rate for Americans making over $400,000 would increase from 37% to 39.6%. The top capital gains rate would also go from 20% to 25%.

Democrats are also looking to beef up tax enforcement by the Internal Revenue Service as a vehicle for paying for the package.

The Joint Committee on Taxation estimates the tax changes spearheaded by Democrats would raise more than $2 trillion in revenue over 10 years, with roughly $1 trillion in tax increases from high-income Americans and nearly $1 trillion from corporate and international tax reforms.

There are also huge savings in drug pricing for Medicare through negotiations as well as lower ACA premium savings

 

Meister

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Cradle to the grave, cradle to the grave
 

MarcATL

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Also/too, it's only 1.2% of our GDP over 10 years.

This is what republicans are getting their panties in a twist over...1.2%.
 

bendog

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It looks nice. Until you notice there's no requirement to pass classes or get a 2 year comm college degree.
Or until you cost the entire child tax credit, and see who gets it (It does decrease with income though)
12 weeks paid leave! I hadn't heard of that one. Jesus.
 

bendog

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Also/too, it's only 1.2% of our GDP over 10 years.

This is what republicans are getting their panties in a twist over...1.2%.
I'd prefer putting the 1.2% into medicare and soc sec. But neither party really represents me. And even then, I'd say single one parent families with no more than 3 kids are the ones hurting, as well as two parent families who make less than $50k

Biden is far superior to Trump, though.

It's a good idea, but the bill is drafted by Washington liberals. It is what it is.
 

AzogtheDefiler

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What's in it and how is it paid for..

What's in the Build Back Better Act:​

  • Two free years of community college
The legislation provides two years of free community college for all students, regardless of family income. It is anticipated to cost $108 billion.

The bill would also add $80 billion in funding for Pell Grants, which Democrats say hasn't kept pace with the increasing cost of college.

  • Child care and universal pre-K
Every family that applies shall be offered child care assistance for children ages 0 to 5. In all, the plan allocates roughly $450 billion to lower the cost of child care and provide two years of universal pre-K for 3- and 4-year-olds, according to the House Education and Labor Committee.

The panel estimated that this proposal would keep the cost of child care at or below 7% of most families' income.

  • Medicare expansion
This heavily debated provision would expand Medicare to include coverage of dental, hearing and vision services.


Manchin believes the program's solvency should be addressed before it is expanded.

"We need to stabilize it," he told reporters Friday, according to reports. "By 2026, you understand, the trust fund is going to be insolvent."

  • Extended child tax credit
Democrats expanded the child tax credit for 2021 in their $1.9 trillion COVID-19 relief plan, and now want to extend it through 2025.

Under the enhancement, families receive $3,600 per child under age 6, and $3,000 per child age 6 to 18. Most families receive monthly payments of either $250 or $300 per child.

The full expanded child tax credit is available to individuals making up to $75,000 or married couples making up to $150,000.

While Mr. Biden has touted the tax credit's success in lifting children out of poverty, Manchin thinks Democrats' social spending package should impose work requirements for parents who qualify.

"You want to help the children and the parents that are basically providing for those children. There's no work requirements whatsoever. There's no education requirements whatsoever for better skill sets," he told CNN in an interview this month. "Don't you think, if we're going to help the children, that the people should make some effort?"


The House Ways and Means Committee has also endorsed permanent expansions of the earned income tax credit and child and dependent care tax credit.

  • Cut prescription drug prices
Another key provision in the bill is aimed at helping to slash prescription drug prices. Americans on average pay two to three times as much as people in other countries for prescription drugs, according to the White House. Among other things, the legislation allows Medicare to negotiate drug prices. Medicare is currently prohibited by law from negotiating for the best deal.

  • Paid family and medical leave
For the first time in history, the U.S. would have comprehensive paid leave, covering 12 weeks of paid family and medical leave. The legislation would replace at least two-thirds of earnings, up to $4,000 per month, while the lowest-paid workers would receive 80% of their income.

The White House has previously estimated the plan would cost $225 billion over the next 10 years.

  • Climate change
Combating climate change and slowing the rate at which Earth warms will mean transitioning away from fossil fuels, the major source of greenhouse gas emissions.

One provision that Manchin has objected to is the $150 billion "clean electricity performance program," which would pay utility companies that increase their renewable energy supplies by 4% per year. Companies that do not hit this benchmark would face financial penalties. The bill also provides significant funding for forest management and other wildfire control measures.

There are also measures to incentivize the buying of electric vehicles and the construction of charging stations; consumer rebates to homeowners who weatherfit their houses; and financial penalties for oil and gas producers for methane leaks, among other things.

  • Lesser-known provisions
The massive bill has a slew of lesser-known provisions as well.


For instance, the bill would authorize $5 million a year for the Small Business Administration for an entrepreneurial program for formerly incarcerated individuals.

The bill also directs $2.5 billion for the Justice Department to award competitive grants or contracts to local governments, community-based organizations and other groups to support intervention strategies to reduce community violence.

How they plan to pay for it​

Democrats have also included a tax plan to pay for the provisions in the bill.

The corporate tax rate would rise from 21% to 26%, and the top income tax rate for Americans making over $400,000 would increase from 37% to 39.6%. The top capital gains rate would also go from 20% to 25%.

Democrats are also looking to beef up tax enforcement by the Internal Revenue Service as a vehicle for paying for the package.

The Joint Committee on Taxation estimates the tax changes spearheaded by Democrats would raise more than $2 trillion in revenue over 10 years, with roughly $1 trillion in tax increases from high-income Americans and nearly $1 trillion from corporate and international tax reforms.

There are also huge savings in drug pricing for Medicare through negotiations as well as lower ACA premium savings

Herr Lesh is such a lemming. I'll add a picture as he is too dumb to understand words. Tax the rich is such an idiotic plaform.

IRS data shows how the top 5% of income earners pay an average income tax rate of 17.3% and the top 1% pay an average rate of 25.4%. It should be noted that this only accounts for federal income taxes. Once you pile state income tax on top of that the average rates jump much higher, especially in high tax states like California and New York, driving the wealthy to low or no income tax states like Texas and Florida.

Compare that 25.4% average tax rate to the bottom 50% of earners rate of just 3.4%. That is a massive difference. When it comes to the tax rates the wealthy pay, it is a fact that they pay far more than middle and lower income individuals. Their average rate is SEVEN TIMES higher than those in the bottom 50% of income. …


1633630881974.png
 

MarcATL

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It looks nice. Until you notice there's no requirement to pass classes or get a 2 year comm college degree.
Or until you cost the entire child tax credit, and see who gets it (It does decrease with income though)
12 weeks paid leave! I hadn't heard of that one. Jesus.
What's the complaint?
 

AzogtheDefiler

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Plus:

1633631106244.png


In fact, those making more than $150,000 per year paid a whopping $3.9 trillion in federal income tax (yes, you read that right – TRILLION). Think about that for a minute. Without the zeroes, that is $3,900 compared to $45. Those that value various programs provided by the government should realize that the very people that are funding those programs are the very same ones that are often demonized and maligned. They are the proverbial goose that is laying the golden egg.

As tax policy experts have always said – if you want more of something, tax it less. States that have moved toward very low income tax rates or no state income tax at all are reaping the benefits of inmigration of wealth and business activity and the ballooning tax revenue that comes along with it.

Whether one is comparing federal income tax rates or total taxes paid, the data and facts show that the statement that “the rich don’t pay their fair share of taxes” is plain and simple – one big fat lie.
 

Dont Taz Me Bro

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What's in it and how is it paid for..

What's in the Build Back Better Act:​

  • Two free years of community college
The legislation provides two years of free community college for all students, regardless of family income. It is anticipated to cost $108 billion.

The bill would also add $80 billion in funding for Pell Grants, which Democrats say hasn't kept pace with the increasing cost of college.

  • Child care and universal pre-K
Every family that applies shall be offered child care assistance for children ages 0 to 5. In all, the plan allocates roughly $450 billion to lower the cost of child care and provide two years of universal pre-K for 3- and 4-year-olds, according to the House Education and Labor Committee.

The panel estimated that this proposal would keep the cost of child care at or below 7% of most families' income.

  • Medicare expansion
This heavily debated provision would expand Medicare to include coverage of dental, hearing and vision services.


Manchin believes the program's solvency should be addressed before it is expanded.

"We need to stabilize it," he told reporters Friday, according to reports. "By 2026, you understand, the trust fund is going to be insolvent."

  • Extended child tax credit
Democrats expanded the child tax credit for 2021 in their $1.9 trillion COVID-19 relief plan, and now want to extend it through 2025.

Under the enhancement, families receive $3,600 per child under age 6, and $3,000 per child age 6 to 18. Most families receive monthly payments of either $250 or $300 per child.

The full expanded child tax credit is available to individuals making up to $75,000 or married couples making up to $150,000.

While Mr. Biden has touted the tax credit's success in lifting children out of poverty, Manchin thinks Democrats' social spending package should impose work requirements for parents who qualify.

"You want to help the children and the parents that are basically providing for those children. There's no work requirements whatsoever. There's no education requirements whatsoever for better skill sets," he told CNN in an interview this month. "Don't you think, if we're going to help the children, that the people should make some effort?"


The House Ways and Means Committee has also endorsed permanent expansions of the earned income tax credit and child and dependent care tax credit.

  • Cut prescription drug prices
Another key provision in the bill is aimed at helping to slash prescription drug prices. Americans on average pay two to three times as much as people in other countries for prescription drugs, according to the White House. Among other things, the legislation allows Medicare to negotiate drug prices. Medicare is currently prohibited by law from negotiating for the best deal.

  • Paid family and medical leave
For the first time in history, the U.S. would have comprehensive paid leave, covering 12 weeks of paid family and medical leave. The legislation would replace at least two-thirds of earnings, up to $4,000 per month, while the lowest-paid workers would receive 80% of their income.

The White House has previously estimated the plan would cost $225 billion over the next 10 years.

  • Climate change
Combating climate change and slowing the rate at which Earth warms will mean transitioning away from fossil fuels, the major source of greenhouse gas emissions.

One provision that Manchin has objected to is the $150 billion "clean electricity performance program," which would pay utility companies that increase their renewable energy supplies by 4% per year. Companies that do not hit this benchmark would face financial penalties. The bill also provides significant funding for forest management and other wildfire control measures.

There are also measures to incentivize the buying of electric vehicles and the construction of charging stations; consumer rebates to homeowners who weatherfit their houses; and financial penalties for oil and gas producers for methane leaks, among other things.

  • Lesser-known provisions
The massive bill has a slew of lesser-known provisions as well.


For instance, the bill would authorize $5 million a year for the Small Business Administration for an entrepreneurial program for formerly incarcerated individuals.

The bill also directs $2.5 billion for the Justice Department to award competitive grants or contracts to local governments, community-based organizations and other groups to support intervention strategies to reduce community violence.

How they plan to pay for it​

Democrats have also included a tax plan to pay for the provisions in the bill.

The corporate tax rate would rise from 21% to 26%, and the top income tax rate for Americans making over $400,000 would increase from 37% to 39.6%. The top capital gains rate would also go from 20% to 25%.

Democrats are also looking to beef up tax enforcement by the Internal Revenue Service as a vehicle for paying for the package.

The Joint Committee on Taxation estimates the tax changes spearheaded by Democrats would raise more than $2 trillion in revenue over 10 years, with roughly $1 trillion in tax increases from high-income Americans and nearly $1 trillion from corporate and international tax reforms.

There are also huge savings in drug pricing for Medicare through negotiations as well as lower ACA premium savings

Your entire premise is that somebody else should be responsible for your life choices.
 

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AzogtheDefiler

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This is a blatant lie.
Do explain how that is a "lie" when that is precisely what it is not. LOL

Get your G.E.D and then you may converse intelligently, leftist.
 

MarcATL

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Do explain how that is a "lie" when that is precisely what it is not. LOL

Get your G.E.D and then you may converse intelligently, leftist.
After you explain how it controls people's choices.
 

ColonelAngus

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They are saying there would be 5 years before any of this actually gets built.

Just a thought....

....COLLECT THE $3.5 trillion.....and then spend it.

The lying left claim the bill is free. So raise the money and then spend it.
 

MarcATL

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AzogtheDefiler

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After you explain how it controls people's choices.
Your entire premise is that somebody else should be responsible for your life choices.

Above is dont Taz Me Bros statement. What do you mean by "it"? I speak two languages fluently but I do not speak Leftist Gibberish.
 

22lcidw

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Also/too, it's only 1.2% of our GDP over 10 years.

This is what republicans are getting their panties in a twist over...1.2%.
There are a lot of1.2% of GDP and more programs that add up. It is hard to believe there was a time one earner could take care of a family. The taxes have to keep rising more and more as we become more irresponsible in our living ways. The real painful thing is that many women due to extreme feminism are now forced to work and like many guys can not stand the job they are in. So the taxpayer is on the hook. I can almost imagine the scamming that is going to be done with this if passed.
 

Dont Taz Me Bro

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After you explain how it controls people's choices.

Why does he need to explain an idea that was never presented? Perhaps you should repeat the 2nd grade and learn to read.
 

AzogtheDefiler

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