October 28, 2021/Media, Press

ICYMI: N&O: What’s in Biden’s compromise spending plan, and how will it affect North Carolina?

Today, President Biden announced his Build Back Better framework, which will reduce the deficit and lower costs for working families in North Carolina. In an article by The News & Observer, North Carolina Democratic Party Chair Bobbie Richardson laid how President Biden’s framework will be a game-changer for our state:

“In North Carolina, President Biden’s Build Back Better framework will deliver on issues critical to the future of our state, including expanding access to affordable, high quality child care, providing support for HBCUs, and closing the Medicaid coverage gap,” said Bobbie Richardson, chairwoman of the North Carolina Democratic Party, in a statement.

Read more from the News & Observer on how the Build Back Better Act impact North Carolina. 

  • President Joe Biden released Thursday a new spending plan, significantly paring back the original bill and its price tag after some Senate Democrats balked.

  • The framework for the Build Back Better Act includes $1.85 trillion in spending — with nearly $1 trillion for child care and preschool and clean energy and climate investments — and nearly $2 trillion in revenue offsets, including a surtax on multi-millionaires and billionaires.

  • In states like North Carolina which have not expanded Medicaid to more low-income people, the White House said the compromise plan would make millions of those people eligible for tax credits to pay premiums on Affordable Care Act health insurance plans.

  • “This agenda, the agenda that’s in these bills, is what 81 million Americans voted for,” Biden said in an address Thursday. “Their voices deserve to be heard, not denied or, worse, ignored.”

  • Reps. Kathy Manning and David Price, both North Carolina Democrats, said they would support the bill. Manning called it “transformative.”