Biden: Better child, elderly care can create 3 million jobs

WASHINGTON (AP) — Joe Biden wants to spend more than three-quarters of a trillion dollars to dramatically improve care for older Americans, bolster low-income families' tax credits and provide preschool for all 3- and 4-year-olds — part of the presumptive Democratic presidential nominee's larger plan to remake an economy ravaged by the coronavirus.

Unveiled Tuesday, the proposal is slated to cost $775 billion over 10 years and is designed to create 3 million new jobs caring for older people and providing improved early education to children. Biden promises to pay for it by reducing tax breaks for real estate investors with annual incomes of $400,000-plus, while also increasing compliance with existing tax law for high earners.

The former vice president is planning to provide more details during an afternoon speech near his home in Wilmington, Delaware.

“The pandemic has laid bare just how hard it is for people in this country to find access to quality caregiving they need for themselves, or to juggle the responsibilities of working and also caring for family members,” Biden campaign's wrote in a 10-page announcement of the plan.

It marks the third plank of Biden's larger plan to rebuild the post-coronavirus economy, following a $2 trillion environmental proposal he released last week and a $700 billion plan unveiled the week before seeking to increase government purchasing of U.S.-based goods and invest in new research and development. Biden is attempting to illustrate for voters how the coronavirus can present opportunities for job growth and new policy priorities in contrast to President Donald Trump, who has promised to rebuild the economy stronger than ever but otherwise struggled to articulate what he hopes to accomplish with a second term.

Senior Biden campaign officials described the care-giving...