Fourth Stimulus Check: What to Expect from Biden's American Family Plan Announcement

Although there is no certainty that the president will authorize a fourth check, the plan that is being proposed seeks that the less favored social classes have the necessary help so that their children have the essentials

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White House Press Secretary Jen Psaki reported that President Biden will continue to meet with his policy team to finalize the details of the American Family Plan, the next phase of his $ 4 trillion push to .

Although many analysts and even members of the national political class have said that there will not be a fourth stimulus check, the claim is not entirely true, since a sector of the population is pressuring President Joe Biden to authorize a fourth support .

A number of activists and a section of Democrats in Congress have been urging Biden to endorse not just a fourth stimulus check, but also regular payments until the pandemic crisis ends.

However, Biden is expected to detail took his proposal to raise taxes on millionaire investors as part of his administration’s domestic policy agenda . poverty and fund education and child care programs .

The American Family Plan seeks to raise the tax rate on capital gains from your current % to the 39. 6% for Americans who earn $ 1 million per year of investment income .

An additional 3.8% tax on investment income would remain in effect to fund the Affordable Care Act, bringing the total increase for some wealthy Americans to 43. 4% percent.

The president aims to reduce inequalities among working families who essentially end up paying a higher tax rate than investors.

Tax increases for the American Family Plan would be used to support paid family leave and childcare costs and make pre-kindergarten and community college free for all .

Would also include an extension of the extended child tax credit which would give parents with young children up to $ 300 per month or $ 250 for children six years or more.

Despite this, it is still not clear if the president will authorize a fourth stimulus check, which is promoted by various Democratic legislators of the progressive wing, who insist that should continue to support those most in need .

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