We collect cookies to analyze our website traffic and performance; we never collect any personal data. Cookie Policy
Accept
The Tycoon Herald
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Reading: Biden Unveils New Social Spending Proposal—Here’s What Remains After $2 Trillion In Cuts
Sign In
The Tycoon HeraldThe Tycoon Herald
Font ResizerAa
Search
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© Tycoon Herald. All Rights Reserved.
Biden Unveils New Social Spending Proposal—Here’s What Remains After  Trillion In Cuts
The Tycoon Herald > Business > Biden Unveils New Social Spending Proposal—Here’s What Remains After $2 Trillion In Cuts
BusinessMoney

Biden Unveils New Social Spending Proposal—Here’s What Remains After $2 Trillion In Cuts

Tycoon Herald
By Tycoon Herald 4 Min Read Published October 28, 2021
Share
SHARE

Topline

Following months of negotiations with spending-hesitant moderates, President Joe Biden on Thursday debuted a new social spending proposal aimed at “restoring the middle class” by tackling many of Democrats’ policy priorities—including free universal preschool for children and an expanded child tax credit—while nixing several others to lower the overall price tag, thought it’s still unclear whether the new package can muster up the support necessary to pass in the evenly split Senate.

Contents
ToplineKey FactsKey BackgroundWhat To Watch ForFurther Reading

President Joe Biden promotes his “Build Back Better” agenda in New Jersey on, Monday, Oct. 25.

ASSOCIATED PRESS

Key Facts

The package would authorize $1.75 trillion in spending over 10 years, the White House announced Thursday, falling incredibly short of the $3.5 trillion proposal Biden unveiled in August. 

The framework includes $400 billion for free childcare for more than 6 million children and tuition-free pre-school for 3- and 4-year-olds, along with $555 billion for clean energy initiatives, including $320 billion in tax credits over 10 years to help Americans pay for environmentally friendly home improvements and corporations transition to clean-energy manufacturing.

Some items in the framework call for lower spending than originally proposed, with about $200 billion to expand the child tax credit for an additional year—down significantly from the four-year extension proposed in August.

Other items have been removed completely, most notably two years of tuition-free community college for all Americans.

To help pay for the package, Biden has tapped a 15% corporate minimum tax on large corporations, backing a proposal introduced by senators earlier this week; a discussed tax on stock buybacks and a surcharge on the top 0.02% of high earners also made the cut, though a contentious billionaire income tax was left out.

Key Background

Democrats are racing to hammer out the details of a social spending package before Biden departs for a trip to Europe on Thursday. Though the Senate narrowly passed a budget blueprint for the package in August, party leaders have struggled to temper concerns over heightened spending among moderates. Sen. Joe Manchin (D-W.V.) has long insisted he preferred a $1.5 trillion package, but on Tuesday suggested he may be willing to go higher. In a bid to raise pressure for a deal, House progressives threatened to block a Senate-passed infrastructure bill, which itself faces a tight end-of-month deadline for passage, without further progress on the second package. 

What To Watch For

Though the White House has touted its Thursday framework as a deal among Democrats, it has yet to garner explicit approval from Democrats who have thus far withheld support for a big spending package, namely Manchin and Sen. Kyrsten Sinema (D-Ariz.), who’s also refused to support a $3.5 trillion price tag. 

Further Reading

Democrats’ Spending Plan Could Mean $20 Billion Tax Cut For The Rich—Even With A New Billionaire Tax (Forbes)

Here’s Why Democrats’ $3.5 Trillion Budget Plan Could Impact Every Single American (Forbes)

This is a developing story. Please check back for updates.

You Might Also Like

Russia for Business: Experts Who Help Drive Decisions

The Quiet Shift in America’s Workforce: Why Side Hustles Are Becoming Essential for Women Over 40

Residing Paycheck to Paycheck: 9 Genius Methods To Cease It Ceaselessly – Dollarsanity

10 Tricks to Reside Frugally After Retirement – Dollarsanity

Tips on how to Price range Your Money Utilizing Dave Ramsey’s Budgeting Percentages – Dollarsanity

TAGGED:MoneyThe Forbes Journal
Share This Article
Facebook Twitter Email Copy Link Print
Eminem’s Daughter Alaina Scott Is Pregnant With Her First Child
Entertainment

Eminem’s Daughter Alaina Scott Is Pregnant With Her First Child

Eminem's Daughter Alaina Scott Slim Shady Grandbaby … Encore!!! Printed October 13, 2025 7:44 AM PDT Eminem's household is rising a little bit larger ... as a result of he'll…

By Tycoon Herald 2 Min Read
Biscuits And Gravy Recipe | Biscuits With Sausage Gravy –
October 13, 2025
The Center Half Is Having a Second — Once more | FashionBeans
October 13, 2025
Saudi Professional League: Sky Sports activities secures highlights and clips rights for 2025/26 season
October 13, 2025
Lions Coach Dan Campbell Rips Brian Department For Igniting Postgame Brawl Vs. Chiefs
October 13, 2025

You Might Also Like

Joseph Safina’s Driven Becomes Amazon Bestseller, Blending High Finance with High Speeds
BusinessTrending

Joseph Safina’s Driven Becomes Amazon Bestseller, Blending High Finance with High Speeds

By Tycoon Herald 6 Min Read
How To Make A Funds: 12 Simple Methods To Do It (The Full Information) – Dollarsanity
Money

How To Make A Funds: 12 Simple Methods To Do It (The Full Information) – Dollarsanity

By Tycoon Herald 60 Min Read
10 Outdated-Normal Cleansing Suggestions from Grandma – Dollarsanity
Money

10 Outdated-Normal Cleansing Suggestions from Grandma – Dollarsanity

By Tycoon Herald 21 Min Read

More Popular from Tycoon Herald

MEET THE FATHER OF COADUNATE ECONOMIC MODEL
BusinessTrending

MEET THE FATHER OF COADUNATE ECONOMIC MODEL

By Tycoon Herald 2 Min Read
Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

By Tycoon Herald
Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments
InnovationTrending

Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments

By Tycoon Herald 7 Min Read
Entertainment

Bella Hadid Posts Attractive Instagram Images at Victoria Secret Present

The 2024 Victoria's Secret Style Present could be over, however not for Bella Hadid who posted…

By Tycoon Herald
Entertainment

Olivia Culpo Offers Beginning, Welcomes First Little one With Christian McCaffrey

Olivia Culpo & Christian McCaffrey We're A-Record Mother and father!!! Revealed July 13, 2025 12:14 PM…

By Tycoon Herald
Trending

U.S. Blew Up a C.I.A. Post Used to Evacuate At-Risk Afghans

A controlled detonation by American forces that was heard throughout Kabul has destroyed Eagle Base, the…

By Tycoon Herald
Leadership

Northern Lights: 17 Best Places To See Them In 2021

Who doesn’t dream of seeing the northern lights? According to a new survey conducted by Hilton, 59% of Americans…

By Tycoon Herald
Real Estate

Exploring Bigfork, Montana: A Little Town On A Big Pond

Bigfork, Montana, offers picturesque paradise in the northern wilderness. National Parks Realty With the melting of…

By Tycoon Herald
Leadership

Leaders Need To Know Character Could Be Vital For Corporate Culture

Disney's unique culture encourages young employees to turn up for work with smiles on their faces.…

By Tycoon Herald
The Tycoon Herald

Tycoon Herald: Your instant connection to breaking stories and live updates. Stay informed with our real-time coverage across politics, tech, entertainment, and more. Your reliable source for 24/7 news.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Terms of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices
© Tycoon Herald. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?