Biden Whispers then Yells About His Spending Plan: ‘This Is a Tax Cut’ that ‘Doesn’t Increase the Deficit One Single Cent’
Biden: “My Build Back Better plan will cut childcare costs more than in half for low and middle-income New Jersey residents. Under my plan, no middle-class family will spend more than 7% of their income on childcare. We’ll also extend historic middle-class tax cuts for parents by expanding the childcare tax credit. Everybody talks about children. And Josh has heard me say it, I view it as a tax cut for middle-class families. A tax cut. We never have an argument when we talk about the wealthy! This is a tax cut! It changes the lives of the American people!
(Applause)
As many people here in New Jersey understand, it means you get $300 a month for every child under the age of 6 and $250 for a child between 6 and 17. That money is already a life changer for so many working families. It is projected to cut child poverty in New Jersey by 36%. These bills are going to change the lives of millions of people in the areas and hundreds of millions of people across the country for better and for years to come. So everyone here today, especially Governor Murphy and other dedicated officials here today, thank you for showing us what is possible. Because when we make these investments, there’s going to be no stopping America. We will own the future. This initiative is about betting on America, about believing in America, about believing in the American people. If you’re looking at the history of the journey of this nation, what becomes clear is this: given half a chance, the American people have never ever, ever, ever let their country down. So let’s get this done. Let’s move. Folks, we have the most — we have the most talented work force in the world. What are we doing? What in God’s name are we doing? And by the way, you hear these numbers, $3.5 trillion and $1.75 trillion — we pay for it all. It doesn’t increase the deficit one single cent. So let’s get to work. Let’s put people to work.
(Applause)
And let’s once again re-establish America as the most advanced country in the world.”
