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US President Biden makes a speech at Congress today (29th) on the 100th day of inauguration. In today's speech, it is known that he will reveal his plan to create a budget of 2,000 trillion won for human investment such as education and childcare. The plan is to raise this money through a wealth increase.
This is Kim Yoon-soo, a correspondent from Washington.
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US President Biden is speaking for the first time since taking office today.
It is known that they will present the'American Family Plan' worth 2,000 trillion won.
Over the next 10 years, we will invest 1100 trillion won in education and childcare, and provide 900 trillion won in tax credits to middle-income and younger households.
This included free kindergarten education for children aged 3-4 years old and lower health insurance premiums.
The infrastructure budget previously proposed to Congress for job creation is 4,500 trillion won.
[Bedingfield/U.S. White House Public Affairs Bureau: This is a very important investment that not only creates 19 million jobs, but also supports future growth. President Biden believes that it is a great opportunity to do both.] He
intends to reinvigorate the US economy, which was sunk by Corona 19, through aggressive investments in physical and human infrastructure.
The plan is to secure financial resources through a'rich tax increase' policy such as an increase in income tax and capital gains tax, and corporate tax increase.
However, the Republican Party is strongly opposed to the fiscal deterioration and lower investment due to tax increases.