So, a compromise bill has been announced that has progressives up in arms. This one is only $1.75 trillion, or $175 billion a year, half of what was originally proposed. Now, the original proposal was lame enough, so this is even lamer. A lot of progressives are now talking about killing the bill entirely. Before making that judgment, I would like to investigate what's in it.
Provide universal and free preschool for all 3- and 4-year-olds, the largest expansion of universal and free education since states and communities across the country established public high school 100 years ago. Preschool in the United States costs about $8,600 per year. The Build Back Better framework will enable states to expand access to free preschool for more than 6 million children per year and increase the quality of preschool for many more children already enrolled. Importantly, parents will be able to send children to high-quality preschool in the setting of their choice – from public schools to child care providers to Head Start. The program will lead to lifelong educational and economic benefits for children and parents, and is a transformational investment in America’s future economic competitiveness. In fact, research shows that every $1 invested in high-quality early childhood care and education can yield $3 to $7 over the long-run, as they do better in school, are more likely to graduate high-school and college, and earn more as adults.
I'm gonna be honest, universal preK and childcare have never been super high priorities for me. At the same time, I do welcome these changes. The universal preK thing actually is pretty good, although I have given criticisms on why they're focusing on this. It's to get parents working again. And I really ain't huge on that approach. It also forces children to go to school earlier, which I don't see as a good thing for children. Forcing kids into the system where it's all they know is just more indoctrination. Honestly, I'd rather see free college than free preK. Still, I can't say that in some ways it is a bad thing. I largely support this.
Make the largest investment in child care in the nation’s history, saving most working American families more than half of their spending on child care. For decades, child care prices in the United States have risen faster than family incomes, yet the United States still invests 28 times less than its competitors on helping families afford high-quality care for toddlers. The Build Back Better framework will ensure that the vast majority of working American families of four earning less than $300,000 per year will pay no more than 7 percent of their income on child care for children under 6. Parents who are working, looking for work, participating in an education or training program, and who are making under 2.5 times their states median income will receive support to cover the cost of quality care based on a sliding scale, capped at 7% of their income. The framework will help states expand access to high-quality, affordable child care to about 20 million children per year – covering 9 out of 10 families across the country with young children. For two parents with one toddler earning $100,000 per year, the framework will produce more than $5,000 in child care savings per year. Better access to high-quality child care can increase the likelihood that parents, especially mothers, are employed or enrolled in education and training beyond high school, while also providing lifetime benefits for children, especially those who are economically disadvantaged.
As I said not the highest priority but I do welcome this. Still, this is standard democratic BS of "affordable" care where you still gotta pay like 7% of your income or something like that. That's ridiculous. Just make it free.
Deliver affordable, high-quality care for older Americans and people with disabilities in their homes, while supporting the workers who provide this care. Right now, there are hundreds of thousands of older Americans and Americans with disabilities on waiting lists for home care services or struggling to afford the care they need, including more than 800,000 who are on state Medicaid waiting lists. A family paying for home care costs out of pocket currently pays around $5,800 per year for just four hours of home care per week. The Build Back Better framework will permanently improve Medicaid coverage for home care services for seniors and people with disabilities, making the most transformative investment in access to home care in 40 years, when these services were first authorized for Medicaid. The framework will improve the quality of caregiving jobs, which will, in turn, help to improve the quality of care provided to beneficiaries.
I mean this is a good thing. I don't really have opinions other than that. Although it would be nice if we had medicare for all and made these services free as part of that. So this is piecemeal, but it's not terrible.
Provide more than 35 million households up to $3,600 (or $300 per month) in tax cuts per child by extending the American Rescue Plan’s expanded Child Tax Credit. The Build Back Better framework will provide monthly payments to the parents of nearly 90 percent of American children for 2022 – $300 per month per child under six and $250 per month per child ages 6 to 17. This historic tax cut will help cover the cost of food, housing, health care, and transportation and will continue the largest one-year reduction in child poverty in history. And critically, the framework includes permanent refundability for the Child Tax Credit, meaning that the neediest families will continue to receive the full Child Tax Credit over the long-run.
This is the best thing about this plan. This is arguably the first step toward a basic income, and while, I find it to be piecemeal and don't like it limited to kids, I'm glad this is the one thing that made it into the bill unscathed. Seriously, if there's anything positive I have to say about the Biden presidency, it's this. Still, we should have a full UBI for all, not just a tax credit for people with kids, which is completely unfair to those without kids.
Deliver substantial consumer rebates and ensure middle class families save money as they shift to clean energy and electrification. The consumer rebates and credits included in the Build Back Better framework will save the average American family hundreds of dollars per year in energy costs. These measures include enhancement and expansion of existing home energy and efficiency tax credits, as well as the creation of a new, electrification-focused rebate program. The framework will cut the cost of installing rooftop solar for a home by around 30 percent, shortening the payback period by around 5 years; and the framework’s electric vehicle tax credit will lower the cost of an electric vehicle that is made in America with American materials and union labor by $12,500 for a middle-class family. In addition, the framework will help rural communities tap into the clean energy opportunity through targeted grants and loans through the Department of Agriculture.
This is nice, but again, piecemeal.
Ensure clean energy technology – from wind turbine blades to solar panels to electric cars – will be built in the United States with American made steel and other materials, creating hundreds of thousands of good jobs here at home. The Build Back Better legislation will target incentives to grow domestic supply chains in solar, wind, and other critical industries in communities on the frontlines of the energy transition. In addition, the framework will boost the competitiveness of existing industries, like steel, cement, and aluminum, through grants, loans, tax credits, and procurement to drive capital investment in the decarbonization and revitalization of American manufacturing.
This also seems piecemeal.
Advance environmental justice through a new Clean Energy and Sustainability Accelerator that will invest in projects around the country, while delivering 40% of the benefits of investment to disadvantaged communities, as part of the President’s Justice40 initiative. The framework will also fund port electrification; facilitate the deployment of cleaner transit, buses, and trucks; and support critical community capacity building, including grants to environmental justice communities. In addition, the framework will create a new Civilian Climate Corps – with over 300,000 members that look like America. This diverse new workforce will conserve our public lands, bolster community resilience, and address the changing climate, all while putting good-paying union jobs within reach for more Americans.
300k jobs is like, a month of job growth. Still, it's a nice step, but it's kind of small. And I find the diversity circlejerk to be kind of unnecessary here.
Bolster resilience and natural solutions to climate change through a historic investment in coastal restoration, forest management, and soil conservation. The framework will provide resources to farmers, ranchers, and forestland owners, supporting their efforts to reduce emissions. At its peak, the increased investments in climate smart agriculture alone could reach roughly 130 million cropland acres per year, representing as many as 240,000 farms. Farmers, ranchers, and forestland owners have long demonstrated leadership in environmental stewardship with strategies that provide benefits for the farm, the environment, and the public. These investments will help meet the demand from the farming community for conservation support and enable producers to realize the full potential of climate benefits from agriculture.
This seems unnecessary.
Strengthen the Affordable Care Act and reduce premiums for 9 million Americans. The framework will reduce premiums for more than 9 million Americans who buy insurance through the Affordable Care Act Marketplace by an average of $600 per person per year. For example, a family of four earning $80,000 per year would save nearly $3,000 per year (or $246 per month) on health insurance premiums. Experts predict that more than 3 million people who would otherwise be uninsured will gain health insurance.
$600? You do realize people who had insurance have like $5000 deductibles right? This is just more working around the edges.
Close the Medicaid coverage gap, leading 4 million uninsured people to gain coverage. The Build Back Better framework will deliver health care coverage through Affordable Care Act premium tax credits to up to 4 million uninsured people in states that have locked them out of Medicaid. A 40-year old in the coverage gap would have to pay $450 per month for benchmark coverage – more than half of their income in many cases. The framework provides individuals $0 premiums, finally making health care affordable and accessible.
Fixing a gap left by previous democratic efforts to provide healthcare. Gaps still exist though, so this helps, but not much.
Expand Medicare to cover hearing benefits. Only 30% of seniors over the age of 70 who could benefit from hearing aids have ever used them. The Build Back Better framework will expand Medicare to cover hearing services, so that older Americans can access the affordable care they need.
Makes you wonder why we didnt have this in the first place.
Make the single largest and most comprehensive investment in affordable housing in history. The framework will enable the construction, rehabilitation, and improvement of more than 1 million affordable homes, boosting housing supply and reducing price pressures for renters and homeowners. It will address the capital needs of the public housing stock in big cities and rural communities all across America and ensure it is not only safe and habitable but healthier and more energy efficient as well. It will make a historic investment in rental assistance, expanding vouchers to hundreds of thousands of additional families. And, it includes one of the largest investments in down payment assistance in history, enabling hundreds of thousands of first-generation homebuyers to purchase their first home and build wealth. This legislation will create more equitable communities, through investing in community-led redevelopments projects in historically under-resourced neighborhoods and removing lead paint from hundreds of thousands of homes, as well as by incentivizing state and local zoning reforms that enable more families to reside in higher opportunity neighborhoods.
To be fair, this is pretty good. And this is a relatively high priority of mine, so I welcome this.
Extend the expanded Earned Income Tax Credit (EITC) for around 17 million low-wage workers. Before this year, the federal tax code taxed low-wage childless workers into poverty or deeper into poverty — the only group of workers it treated this way. The Build Back Better framework will extend the American Rescue Plan’s tripling of the credit for childless workers, benefiting 17 million low-wage workers, many of whom are essential workers, including cashiers, cooks, delivery drivers, food preparation workers, and childcare providers. For example, a childless worker who works 30 hours per week at $9 per hour earns income that, after taxes, leaves them below the federal poverty line. By increasing her EITC to more than $1,100, this expansion helps pull such workers out of poverty.
As someone who is childfree, I like this a lot. I always felt it was unfair childfree people are always given the short end of the stick. yall got any of that UBI though for us?
Expand access to affordable, high-quality education beyond high school. Education beyond high school is increasingly important for economic growth and competitiveness in the 21st century, even as it has become unaffordable for too many families. The Build Back Better framework will make education beyond high school – including training for high-paying jobs available now – more affordable. Specifically, the framework will increase the maximum Pell Grant by $550 for more the more than 5 million students enrolled in public and private, non-profit colleges and expand access to DREAMers. It will also make historic investments in Historically Black Colleges and Universities (HBCUs), Tribal Colleges and Universities (TCUs), and minority-serving institutions (MSIs) to build capacity, modernize research infrastructure, and provide financial aid to low-income students. And, it will invest in practices that help more students complete their degree or credential. The framework will help more people access quality training that leads to good, union, and middle-class jobs. It will enable community colleges to train hundreds of thousands of students, create sector-based training opportunity with in-demand training for at least hundreds of thousands of workers, and invest in proven approaches like Registered Apprenticeships and programs to support underserved communities. The framework will increase the Labor Department’s annual spending on workforce development by 50% for each of the next 5 years.
I'm sorry, but this is freaking pathetic. Pell grants are useless. I remember getting one one year when I was in college. I think it gave me like $1k a year? That isn't much. Also, the obsession with idpol here, focusing on dreamers and black colleges particularly feels like it's unnecessarily divisive. And out of this, we don't even get the 2 year community college. This proposal is a joke.
Promote nutrition security to support children’s health. The Build Back Better framework will help children reach their full potential by investing in nutrition security year-round. The legislation will expand free school meals to 8.9 million children during the school year and provide a $65 per child per month benefit to the families of 30 million children to purchase food during the summer.
Wanna know what would be monumentally better than this? UBI.
Strengthen the middle class through a historic investment in equity, safety, and fairness. The legislation makes a transformative investment in Rural America through a new Rural Partnership Program that will empower rural regions, including Tribal Nations and territories, by providing flexible funding for locally-led projects. The Build Back Better framework will also make an historic investment in maternal health and establish a new and innovative community violence intervention initiative, in addition to investing in small businesses and preparing the nation for future pandemics and supply chain disruptions.
I mean I don't really feel anything either way on this one. I do like having more pandemic/supply chain related preparedness though.
The Build Back Better framework includes a $100 billion investment that will improve our immigration system by providing long awaited relief to millions through reconciliation, and making enhancements to reduce backlogs, expand legal representation, and make the asylum system and border processing more efficient and humane.
Cool I guess.
Now onto taxes:
Stop large, profitable corporations from paying zero in tax and tax corporations that buyback stock rather than invest in the company. In 2019, the largest corporations in the United States paid just 8 percent in taxes, and many paid nothing at all. President Biden believes this is fundamentally unfair. The Build Back Better framework will impose a 15% minimum tax on the corporate profits that large corporations—those with over $1 billion in profits—report to shareholders. This means that if a large corporation says it is earning a billion dollars, then it can’t avoid paying taxes. The framework also includes a 1% surcharge on corporate stock buybacks, which corporate executives too often use to enrich themselves rather than investing workers and growing their businesses.
Good move, but the tax rate was 40% in some cases under Obama...
Stop rewarding corporations for shipping jobs and profits overseas. President Biden has led the world to stop the race to the bottom in corporate taxes, while also calling for an end to incentives that encourage corporations to ship jobs and profits overseas. That’s why the President won an agreement among 136 countries on a 15% global minimum tax. This framework will help finish the job. Consistent with that agreement, it’d adopt a 15% country-by-country minimum tax on foreign profits of U.S. corporations, so that they no longer receive massive tax benefits from shifting profits and jobs abroad. And, these reforms would ensure that other countries abide by the agreement by imposing a penalty rate on any foreign corporations based in countries that do not. Other countries will not be able to take advantage by pursuing a race to the bottom.
We were at 40%. 15% is an insult.
Ask the highest income Americans to pay their fair share. The Build Back Better framework includes a new surtax on the income of multi-millionaires and billionaires – the wealthiest 0.02 percent of Americans. It would apply a 5 percent rate above income of $10 million, and an additional 3 percent surtax on income above $25 million. The Build Back Better framework will also close the loopholes that allows some wealthy taxpayers to avoid paying the 3.8 Medicare tax on their earnings.
Not bad, but seriously, we should be taxing the rich at like 70% anyway.
Invest in overhauling tax administration, so the wealthy finally pay what they owe. Regular workers pay the taxes they owe on their wages and salaries—with a 99 percent compliance rate—while too many wealthy taxpayers hide their income from the IRS so they don’t have to pay. Yet, the IRS does not have the resources it needs to pursue wealthy tax cheats. As a result of budget cuts, audit rates on those making over $1 million per year fell by over 60 percent over the last decade, and the IRS audits only 7,5000 of the 4.2 million partnership returns filed each year. The result of a gutted IRS is a two-tiered tax system, where wage earners pay all the taxes they owe, but the top 1 percent evades over $160 billion per year in taxes. The framework will create a fairer tax system through transformation investments in the IRS: hiring enforcement agents who are trained to pursue wealthy evaders, modernizing outdated IRS technology, and investing in taxpayer service, so regular Americans can get their questions answered and access to the credits and benefits they are entitled to. Additional enforcement resources will be focused on pursuing those with the highest incomes; not Americans with income less than $400,000.
Yeah, we lose an insane amount of money from poor enforcement. So I support this.
Overall impressions
Overall, this bill has a few good things in it, but those things are WAAAY more moderate than i would like. Way too much stuff focusing on children, which leaves childless Americans in the cold. Sure we get a slightly higher EITC, but ya know what? I'd rather have a UBI. Despite that complaint, the child tax credit is the best part of the bill, and it making it in without means testing is good, so that's my big thing here. This is a move in the direction of UBI, even if it's only for kids, so I welcome it.
The childcare thing I kind of like, as I recognize that it's a problem America faces, but out of all of the problems we face, it isn't what I would focus on. Of course, Biden is a neolib who just wants to 'go back to normal" and sees this as an obstacle to doing so, so that's why they're focusing on that. It's about increasing the labor force, flooding the market with workers to drive wages down, blah blah blah. Still, childcare has been a long standing issue, so I support this.
The healthcare stuff is nice but WAY too moderate and piecemeal, even coming out of the Biden administration.
The climate stuff also seems horribly piecemeal mostly.
The higher education proposals are a joke.
Like, outside of a few proposals, this whole bill is next to worthless. I can't say I hate everything about it, but even when it has decent proposals, they're still far more moderate and inadequate than they should be. Given the climate was supposed to be the big thing, this barely has any climate stuff at all. Numerically it comes up to 1/3 of the budget, but looking at the proposals I don't see this doing much. It seems inadequate at dealing with the problem.
Honestly, the only thing about this that excites me is the child tax credit remaining un-means tested. That's a good first step toward a UBI. And if anything saves this bill in my eyes, it's that freaking proposal.
All in all, a lot of progressives are so insulted by this they're talking about voting against this to tank it to offset the moderates who want to water stuff down in the first place. Do I agree with them? Eh, no, if only for that darned tax credit. Seriously, if not for that, i would totally be on board with the "kill the bill" mentality. But hey, UBI for kids? UBI is my big #1 cause, and this is, again, the first step toward it. If Manchin got his way and means tested it, i would've said, yeah, torpedo away. But if I were in congress, I'd support it just to make that first small step toward a UBI.
Still, let this joke of a bill be a testament to the failure that is the democratic party. It literally played itself. We voted in a moderate president, and then what amounts to closet republicans with a D after their name tanked those proposals down worse. Biden is a joke of a president. He really is. To think this is the best we could do. Well, that's why I'm not really a democrat any more, except on my voter registration. I'm totally a forwardist. And looking at this proposal through Yang's 6 tenets, well, it makes a small step on the UBI thing. But looking at this proposal, is this modern and effective governance? Not in the least. Most of it is the same watered down, bureaucratic BS the dems always do, that leads to broken programs no one really likes, that the public later turns on and votes for republicans over.
Again, I must emphasize, the only reason I don't come out against this totally where I'm on team "kill this joke of a bill to spite the moderates and the Biden administration" is because of the child tax credit, aka UBI for kids. Other than that I would be happy to tank this to push for better proposals in the future, because most of these are kind of insulting.
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