Biden's Build Back Better bill: What made it in and what was stripped out
Economic Policy,Build Back Better,Joe Biden,Taxes,Child Tax Credit,Climate Change,Energy,Economy And Jobs
The Build Back Better framework unveiled by the White House on Thursday revises key climate change proposals, keeps funding for universal pre-kindergarten and jettisons earlier plans to provide paid family and medical leave.
The changes come after months of negotiations between moderates, progressives and the White House over the components of a massive social safety net package.
Here's a look at what's new, what's out and what was kept intact in the $1.75 trillion package that's now half the size of the initial proposal from President Joe Biden.
Climate: The proposed framework contains over $550 billion to tackle the climate crisis, down from an initial proposal of $600 billion. Instead of imposing fines for electric utility companies that don’t switch from fossil fuels to renewable or clean energy sources — an approach opposed by Sen. Joe Manchin, D-W.Va. — the climate portion of the bill relies heavily on providing $320 billion in expanded clean energy tax credits. Biden said the bill will lower carbon emissions and "help people do things like weatherize their homes so they use less energy, install solar panels and develop clean energy products, help businesses produce more clean energy."
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