“It sets aside in some cases historic sums to aid workers, families and businesses, seeking to rewire the very fabric of an economy still recovering from the financial devastation wrought by the coronavirus pandemic.”

“The successful 220-to-213 House vote on the Build Back Better Act, bearing the name of the president’s 2020 campaign slogan, marks the second legislative milestone for Democrats this month. It comes about two weeks after they joined with Republicans to finalize a separate, sweeping bill to improve the nation’s roads, bridges, pipes, ports and Internet connections, delivering long-sought infrastructure investments that Biden signed into law Monday.”  

“The package would largely be paid for with tax increases on high earners and corporations, estimated to bring in nearly $1.5 trillion over 10 years. Savings in government spending on prescription drugs are projected to bring in another $260 billion.”

“The legislation is a key piece of Mr. Biden’s domestic policy agenda, paired with a $1 trillion infrastructure package that the president signed into law this week.”  

“The bill calls for creating a universal prekindergarten program, capping child-care costs for many families, negotiating lower prescription-drug prices and expanding tax credits for reducing carbon emissions, among other programs. In addition to expanding tax-enforcement efforts at the Internal Revenue Service, the legislation raises taxes on some corporations and very-high-income Americans.”  

“Democratic leaders, progressives and most moderates have rallied around the package they said would make historic investments in fighting climate change, lower prescription drug prices, expand Medicare coverage and provide universal pre-kindergarten.”

“‘Those of us who serve[d] on this date will be able to tell our children and grandchildren we were there when the Congress passed one of the most transformational bills in the history of the Congress,’ House Majority Leader Steny Hoyer, D-Md., said on Thursday.”  

“The legislation includes a monthly per-child cash payment of up to $300 for most parents, child care funding, universal pre-K, an extension of Affordable Care Act subsidies and Medicare hearing benefits. It also commits $555 billion toward combating climate change, the largest such effort in U.S. history.”

“The bill would be financed by tax increases on upper earners and corporations, more IRS enforcement and prescription drug savings by empowering Medicare to negotiate prices for certain medications.”  

“Democrats see the 2,100-page legislation as overdue and long-lasting help for a vast swath of the nation.”

“‘I don’t think it's hyperbolic to say this would be a game-changer in early education,’ says Albert Wat, senior policy director of Alliance for Early Success. ‘If this passes, this would be a major chapter in the history book of early education.’”  

“‘It would address climate change through billions of dollars in incentive programs while spending money to electrify up to 165,000 U.S. Postal Service trucks and creating a Civilian Climate Corps.”

“Biden praised House passage of the bill, noting it was the second time in two weeks that the chamber moved two ‘consequential’ pieces of his legislative agenda, referencing the new infrastructure law.”

“It includes the largest investment in clean energy — predominately in the form of tax credits — that the federal government has ever made.”

“To help offset the cost of the new spending and tax cuts, the legislation includes a series of tax increases for high-income households and corporations, such as a surtax for multimillionaires and a 15 percent minimum tax for large corporations.”