PRESS RELEASE: ICYMI: BIDEN TOUTS BUILD BACK BETTER ACT DURING CNN TOWN HALL
FOR IMMEDIATE RELEASE
October 21, 2021
Maddy McDaniel, Communications Director
[email protected] or 914-471-7716
ICYMI: BIDEN TOUTS BUILD BACK BETTER ACT DURING CNN TOWN HALL
During tonight’s town hall, President Biden reaffirmed his commitment to passing the Build Back Better Act, a once-in-a-generation investment in care, education, clean energy, and more that will fulfill the president’s campaign promise to rebuild the middle class.
Throughout the town hall, President Biden highlighted how the plan will create millions of jobs, cut taxes for families, and lower the cost of child care, education, health care, prescription drugs and more.
Read more about how the Build Back Better Act will create jobs, lower costs, and lower taxes for working families below:
- The Build Back Better agenda will create millions of jobs:
- Along with the Bipartisan Infrastructure Deal, the Build Back Better Agenda will add, on average, nearly 2 million jobs per year over the course of the decade, while accelerating America’s path to full employment and increasing labor force participation.
- The Build Back Better agenda will lower taxes for middle class families:
- It will expand the Child Tax Credit, lowering taxes for middle class families by providing 39 million households and nearly 90% of children in the U.S. a major tax cut and cutting the child poverty rate in half.
The Build Back Better agenda will lower costs for working people:
It will lower prescription drug costs for Americans by letting Medicare negotiate drug prices, so consumers are no longer at the whim of pharmaceutical companies.
It will lower child care costs — which cost parents $30-35 billion in income before the pandemic. Access to affordable child care could increase the lifetime earnings for women with children by nearly $100,000.
It will lower health care costs and premiums for those buying coverage through the ACA by extending the American Rescue Plan’s cost savings; adding dental, vision, and hearing coverage to Medicare; and closing the Medicaid gap for low-income Americans.
It will lower education costs by making two years of community college tuition-free and making universal preschool a reality.
About Invest in America
Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.
The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.