What’s After The American Rescue Plan? 5 More Ways You May Benefit
The American Rescue Plan is not the last economic stimulus bill the administration is planning.
Next up is the American Jobs Plan Act.
After that is the proposed American Families Plan Act.
How Biden's American Families Plan bill could benefit you
After the Biden administration completes its infrastructure and jobs plan, it would move on to seek $1 trillion spending and $500 billion in new tax credits, according to the Washington Post, for the third stimulus package.
Here are some of the main areas the American Families Plan could cover:
Extend the expanded child tax credit through 2025: The temporary expansion of the child tax credit in March's stimulus bill is expected to reduce child poverty by 45%, according to Columbia University's Center on Poverty and Social Policy, and lift nearly 5 million children out of poverty entirely. The short-term expansion of the program is set to expire this year however, unless Congress renews the program. Biden's plan would extend the expanded child credit to 2025, the Post reports.
Two years of tuition-free community college: As a presidential candidate, Biden said he would work to make the first two years of college free. Biden's plan would cover the first two years of community college, including for adults and new high school graduates. Training programs outside of community colleges would also qualify. Students would still be responsible for some expenses, like textbooks.
Free prekindergarten instruction: For another campaign pledge, the American Families Plan is expected to propose free pre-K education for 3- and 4-year-olds.
More affordable child care: Biden during his campaign said he would work to make child care more affordable for working families through tax credits and subsidies for child care costs. His new plan is expected to embrace that campaign plan for child care.
Paid family and medical leave: Biden is expected to propose broader support for 12 weeks of paid family and medical leave.
All of these benefits are only in the planning stage, and will need to pass congress.
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