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President Joe Biden unveiled his $1.8 trillion American Families Plan last week, which focuses on funding for childcare, education, and healthcare.

Penn Wharton Budget Model (PWBM) predicted that his plan will actually cost $2.5 trillion over ten years while raising $1.3 trillion in tax revenue.

In a report released on Wednesday, PWBM found that Biden’s plan will cost $700 billion more than White House estimates due to tax credits within the plan, such as extending the child tax credit by four years, along with establishing permanent programs including universal pre-K and free community college, which PWBM details ⇒

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