President Biden in his State of the Union address Thursday laid out broad new policy goals for a second term, with aims to use tax hikes on major corporations and the wealthy to make new investments in child care and eldercare, affordable housing and education. If Biden wins another four years, Democrats will try to enact Biden's plans, which, by some measures, are broader than the legislative achievements that have anchored his first term. If Trump wins, Republicans will fight to keep many of those earlier cuts. Congress is already considering legislation that would mark a first step for Biden's agenda. A bill to expand the child tax credit (CTC) - a major Biden priority that provides money for working families - and to restore certain corporate tax breaks passed the House in January and is gathering support in the Senate.

Source: Washington Post March 11, 2024 11:07 UTC