Fully implementing this investment is projected to benefit five million families and save the average American family $13,000 per year. President Biden will also make universal preschool a reality, partnering with states to offer every parent access to high-quality preschool for 3- and 4- year-olds in the setting of their choice.
The President’s plan would ensure that no middle-class family pays more than 7 percent of their income for high-quality child care up to age 5-and that working families most in need won’t pay anything-saving the average family $14,800 per year. Nearly four in five private sector workers have no access to paid family leave. Only 44 percent of four-year-olds are served by public preschool programs.
For 57 percent of children under six, there are no good choices for child care where they live.
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In Washington, this proposal is known as “reconciliation.” But the bottom line is a plan that will create jobs, cut taxes, and lower costs for working families-all paid for by making the tax code fairer and making the wealthiest and large corporations pay their fair share. The Build Back Better Agenda includes President Biden’s American Families Plan and key elements of the American Jobs Plan that were not included in the Bipartisan Infrastructure Deal. Facing a raging pandemic, unprecedented economic downturn, profound climate crisis, and persistent racial injustices, President Biden outlined an ambitious agenda that would position America not just to return to where we were, but to build back better towards a more sustainable, resilient, equitable, and prosperous future. One year ago, with the country at a crossroads, President Biden unveiled his Build Back Better Agenda.