The third pillar of the economic recovery plan of Democratic Presidential candidate Joe Biden is about creating new jobs in caregiving and early education, issues personally closed to the former Vice President.
Based on the 10-page summary of the policy, the proposal will cost $775 Billion over 10 years which will be paid for by reducing tax breaks for real estate investors with annual incomes of $400,000, while also increasing compliance with existing tax law for high earners. This aims to improve care for older Americans, boost low-income American families tax credit, and provide free pre-kindergarten education for all 3 and 4 year-olds. This, if successfully implemented, will create 3 million new jobs for caregivers and early childhood educators.
Former Vice Pres. Joe Biden to launch third pillar of economic plan touting 3 million new jobs in caregiving, early education. https://t.co/wuAsndIH7u— ABC News (@ABC) July 21, 2020
Biden wants to expand alternatives to institutional care for all older Americans especially filling tens of thousands of vacancies in Veterans Affairs facilities around the country. He is eyeing to train and hire 150,000 new community health workers in underserved communities and creating a 100,000-member public health job corps. He plans as well to increase child care facilities by offering tax credits for and direct federal funding to businesses willing to build them.
This third plank of the former Vice President’s larger plan, together with the $2 trillion environmental proposals and a $700 billion plan which aims to invest in research and development and increase government purchasing of U.S.-based goods, shows voters that it is possible to rebuild the economy post-coronavirus.
According to the campaign, the fourth and final pillar will be about racial economic equities - closing gaps between different racial and ethnic groups in the country.