President Joe Biden’s Build Back Better Act, passed by the U.S. House last month, is expected to be passed by the Senate before Christmas. Adding this big-ticket “social spending and climate” bill to the trillions already passed in the name of COVID relief certainly won’t thrill fiscal conservatives. Depending on which version passes, it would add about $360 billion dollars to the federal deficit. Good for Families? Read the Fine Print
The plan is being hailed as good for families since it would extend the enhanced child tax credit by a year and provide assistance for childcare. However, as the saying goes, it’s important to read the fine print, especially the parts about childcare. As Tim Carney writes at the Washington Examiner , the bill will likely include a large new daycare entitlement and universal Pre-K program, but neither apply to family members or homeschooling parents. In other words, […]
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