What’s In the Latest Build Back Better Framework?
November 10, 2021
On October 28, President Biden unveiled the framework for his Build Back Better Plan. The $1.75 trillion package includes key provisions such as permanent refundability of the Child Tax Credit, closing the Medicaid coverage gap in the 12 non-expansion states, a $150 billion investment in affordable housing and vouchers, $100 billion for immigration system reforms, four weeks of paid family leave, and more.
Here’s a breakdown of the NETWORK priorities included in the Build Back Better framework:
*Expand Medicaid coverage in 12 non-expansion states
*Address the Black maternal health crisis
The $130 billion health care investments in the Build Back Better framework will expand Medicaid coverage to 4 million uninsured people in 12 non-expansion states. Medicaid expansion will help elders, rural communities, low-income communities, and other folks with health care accessibility issues receive care. Also included in the package are historic maternal health equity investments to address the Black maternal health crisis.
*Permanent refundability of the Child Tax Credit
*One-year extension of the expanded Child Tax Credit and Earned Income Tax Credit
The proposed Build Back Better framework includes permanent refundability of the Child Tax Credit, and will provide more than 35 million households with the expanded Child Tax Credit of up to $3,600 per child for one year. Full refundability of the Child Tax Credit means that low-income families who do not typically file a tax return will still qualify for the credit and get the support they need.
The framework also extends the expanded Earned Income Tax Credit for about 17 million low-wage workers. The American Rescue Plan tripled the credit for childless workers, many who are essential workers, and the Build Back Better framework will extend this provision to work towards alleviating poverty.
*$150 billion for housing investments including: $25 billion in new rental assistance; $65 billion to preserve public housing infrastructure; and $15 billion for the national Housing Trust Fund
President Biden’s plan would invest $150 billion in housing affordability, especially for rural communities. These investments will fund more than 1 million new affordable homes, rental assistance, public housing, and expand housing vouchers to hundreds of thousands of families in the U.S. This is one of the biggest affordable housing investments in history and will help eliminate the racial wealth and income gap by allowing first-generation homebuyers to build wealth.
*Four weeks of paid family and medical leave
After initially being gutted from the original Build Back Better framework, four weeks of paid family and medical leave is now included thanks to the tireless advocacy of workers and families across the country. The U.S. is one of the only countries in the world without a national paid family and medical leave program. A federal paid leave program will allow low-income workers and workers of color to access paid leave for the first time. Workers will no longer have to choose between a paycheck and caring for themselves or their family members.
*Reforms to our immigration systems
*Work permits and deportation protection for undocumented people in the U.S. 10 years or longer
The Build Back Better framework includes a $100 billion investment for immigration systems reforms, contingent on a Senate parliamentarian ruling. While the current framework includes access to work permits and deportation protections for nearly 7 million undocumented people living in the U.S. for a decade or longer, it disappointingly does not include a pathway to citizenship Dreamers, TPS holders, farm workers, and other essential workers despite strong bipartisan support.
Additional Investments in Children, Families, and Our Communities
In addition to these NETWORK priorities, additional investments the Build Back Better plan will establish universal and free preschool for more than 6 million 3- and 4-year-olds, expand access to high-quality, affordable child care, improve Medicaid coverage for home care services for seniors and people with disabilities while improving the quality of caregiving jobs, and provide $550 billion of investments in clean energy and other climate change initiatives.
How will the Build Back Better plan be paid for?
The Build Back Better plan will be paid for by requiring ultra-wealthy millionaires and billionaires and corporations to pay their fair share. The framework reverses some of the 2017 Trump-era tax cuts for the wealthy to raise revenue for families and workers in the U.S. The tax justice provisions include:
- A surtax of 5% on personal income above $10 million, and 3% on income above $25 million.
- A 15% minimum tax on corporate profits of large corporations with over $1 billion in profits.
- A 1% tax on stock buybacks.
- A 50% minimum tax on foreign profits of U.S. corporations.
- Closing loopholes that allow wealthy taxpayers to avoid Medicare taxes, and more.
Unfortunately, the Billionaires Income Tax was left out of the framework. With the tax changes in the Build Back Better framework, we will raise more than enough revenue to pay for the $1.75 trillion plan.
It’s time to pass Build Back Better!
The Build Back Better framework outlines transformational investments in workers and families that will work towards eliminating the racial wealth and income gap and building a new, equitable society. The framework falls short by not including a pathway to citizenship, but is overall a significant step towards dismantling systemic racism in our federal systems. House Democrats are currently working on moving the Build Back Better plan across the finish line before the end of the year. Email your Representative today or dial 888-738-3058 to call your Representative and tell them you support the Build Back Better framework!