Biden’s $775 Billion ‘Caring Economy’ Plan Paid For With Real Estate Taxes
- Democratic program would bolster care for children, elderly
- Proposal would target ‘like-kind’ real estate exchanges
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Joe Biden on Tuesday unveiled a $775 billion plan to bolster child care and care for the elderly that would be financed by taxes on real-estate investors with incomes of more than $400,000 as well as increased tax compliance by high-income earners.
The Biden campaign did not fully explain how the plan for a “caring economy” would be financed, but officials highlighted some tax breaks they would seek to eliminate to raise revenue.