Why Should You Care About The Build Back Better Act?Dec 09, 2021
On Monday, September 6th, Missouri’s 5th District U.S. Congressman, Rev. Emanuel Cleaver discussed the status of the Build Back Better act, which proposes provisions for "combating climate change, expanding and improving Medicare coverage and providing a path to citizenship for many undocumented immigrants including those who were brought to the U.S. as children."
According to the White House's official website publication, the Build Back Better Act plans to "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."
According to The White House's website, here's how the Build Back Better Act is hoped to benefit Americans:
Investment in children and caregiving in generations:
- Offers universal and free preschool for all 3- and 4-year-olds, the largest expansion of universal and free education since states and communities across the country established public high school 100 years ago.
- Delivers affordable, high-quality care for older Americans and people with disabilities in their homes, while supporting the workers who provide this care.
- Provides 39 million households up to $3,600 (or $300 per month) in tax cuts per child by extending the American Rescue Plan’s expanded Child Tax Credit.
Combat climate change
- Delivers substantial consumer rebates and tax credits to reduce costs for middle class families shifting to clean energy and electrification.
- Ensures clean energy technology – from wind turbine blades to solar panels to electric cars – will be built in the United States with American made steel and other materials, creating hundreds of thousands of good jobs here at home.
- Advances environmental justice through a new Clean Energy and Sustainability Accelerator that will invest in projects around the country, while delivering 40% of the benefits of investment to disadvantaged communities, as part of the President’s Justice40 initiative.
Expansion of affordable healthcare
- Reduces prescription drug costs.
- Strengthens the Affordable Care Act and reduces premiums for 9 Million Americans.
- Closes the Medicaid Coverage Gap, Leading 4 Million Uninsured People to Gain Coverage.
- Expands Medicare to cover hearing benefits.
Lower costs and strengthen the middle class through generations
- Extends the expanded Earned Income Tax Credit (EITC) for around 17 million low-wage workers.
- Invests in immigration reform.
- Expands access to affordable, high-quality education beyond high school.
"Combined with savings from repealing the Trump Administration’s rebate rule, the plan is fully paid for by asking more from the very largest corporations and the wealthiest Americans."
- Stops large, profitable corporations from paying zero in tax and tax corporations that buyback stock rather than invest in the company.
- Stops rewarding corporations for shipping jobs and profits overseas.
- Asks the highest income Americans to pay their fair share.
- Invests in enforcing our existing tax laws, so the wealthy pay what they owe.