President Joe Biden will announce his proposal for a $3 trillion infrastructure and jobs bill that they hope to pass in order to put Americans back to work.
When President Donald Trump was in office, he was seeking $2 trillion for infrastructure, but Biden has added a second piece of funding for additional jobs, education and training, national funding for universal pre-kindergarten, and a national childcare plan as well, the Washington Post reported Monday. The second piece of the bill would also include extending the Child Tax Credit that was included in the 2021 stimulus bill.
"White House officials are also planning to include a measure to force pharmaceutical companies to either lower their prices or pay a steep penalty.," the Post said. "The White House's efforts are likely to be similar to the prescription drug bill unveiled by House Democrats in 2019, which aimed to respond to voter frustration over the rising costs of prescription drugs across the country, the people aware of the internal discussions said."
A Congressional Budget Office report revealed that the Biden pharmaceutical plan would ultimately save the government $450 billion over the next 10 years because it would spend significantly less for Medicare and other public health programs.