Biden’s campaign puts the price tag at $775 billion over 10 years and says it would be fully covered by rolling back tax breaks for real estate investors with incomes over $400,000 and taking steps to increase tax compliance for high-income earners.
The plan calls for building energy-efficient child care facilities, including in workplaces. The former vice president is also proposing to boost pay, benefits and training for caregivers and early childhood educators, while ensuring they have the choice to join unions and collectively bargain.
Along with pre-K for 3- and 4-year-olds, Biden wants to offer low-income and middle-class families a tax credit of up to $8,000 to help pay for child care. He proposes to subsidize child care on a sliding scale for families that prefer that option over the tax credit.
The plan also calls for expanded access to after-school, weekend and summer care for families with school-age children, as well as investments in child care and wraparound services at community college, plus greater access to Department of Defense child care for military families.
Biden’s campaign says his plan would put 3 million Americans to work in new care and education jobs, while providing families up to 12 weeks of paid family and medical leave.