1 Oct 2021 1:46 am
The good news, it costs zero dollars. What could be better?B.See » 30 Sep 2021, 1:37 am » wrote: ↑ CBS News - What's in the $3.5 trillion reconciliation bill?
The 10-year Build Back Better Act would fund everything from free community college to expanded Medicare. Here are some of the major items in the bill:
The legislation provides two years of free community college for all students, regardless of family income.
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.
Every family that applies shall be offered child care assistance for children ages 0 to 5.
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.
it would expand Medicare to include coverage of dental, hearing and vision services.
it would extend the 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.
For the first time in history, the U.S. would have comprehensive paid leave, covering 12 weeks of paid family and medical leave.
It would combat climate change slowing the rate at which Earth warms by transitioning away from fossil fuels, the major source of greenhouse gas emissions.
it will provide incentives for the buying of electric vehicles and the construction of charging stations
it will provide consumer rebates to homeowners who weatherfit their houses; and financial penalties for oil and gas producers for methane leaks, among other things .
the bill would authorize $5 million a year for the Small Business Administration for an entrepreneurial program for formerly incarcerated individuals.
Democrats have 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%.