Eye-popping numbers on how much families will save under Biden's universal pre-school proposal

President Joe Biden is preparing to go big with proposal that will benefit millions of children -- while saving their families big money.

"President Joe Biden is set to announce $200 billion in education funding as part of his sweeping spending package he will unveil prior to his prime-time address to a joint session of Congress, according to a White House official. The proposal will direct the funds toward universal pre-school for all three- and four-year-olds through a national partnership with states, the official said. The White House estimates it will benefit 5 million children and save the average family $13,000 when the plan is fully implemented," CNN reported Tuesday.

Biden is set to address the nation on Wednesday before a limited joint-session of Congress.

"The proposal marks a key plank of Biden's roughly $1.8 trillion American Families Plan, the second prong of his sweeping $4 trillion in spending on physical infrastructure, research and development, home care, child care, paid family and medical leave and extensions of key anti-poverty tax credits," CNN reported. "While the initial, $2.25 trillion infrastructure proposal -- the American Jobs Plan -- was centered on boosting employment and US innovation, the second proposal is designed to zero-in on shortcomings administration officials believe are faced by children and families. In full, the two proposals mark a potentially transformative shift in the federal government's role in the US economy, with Biden's top economic officials repeatedly pointing to fragilities exacerbated by the pandemic as a driving force for their proposals. The package will include a particular focus on reconnecting women, who have been especially hard hit by the pandemic, to the workforce, officials say."