Juana Garcia/The Cougar
It’s been proven time and time again that the government needs to step in when the economy is shot. President Joe Biden’s Build Back Better agenda is what this country needs to survive and prepare for the younger generation’s future.
Biden’s Build Back Better agenda is the most ambitious government spending bill since the New Deal. The New Deal was a direct response to the Great Depression, and this Build Back Better agenda is a direct response to the economic and social consequences of the coronavirus pandemic.
It’s important to understand what’s in the spending bill. For starters, lower costs for the average American. Lower child care costs assure that no middle-class family pays more than 7 percent of their income on child care, with working-class families paying nothing.
Community college would become tuition-free, effectively becoming part of the public school system. These systems aren’t a handout, but rather give people a leg up in society
This bill also gives the federal government the ability to negotiate drug prices, further reducing health care costs. That’s not all, it would reduce health insurance premiums and add dental, vision and hearing coverage to Medicare. Provisions like these are why the overwhelming majority of Americans support the Build Back Better agenda.
“This spending bill is important because it offers many Americans a better social safety net in times of need,” said political science freshman Justice McFarlane. “Extending what Medicare can do for our older members of society, offering universal Pre-k to American kids, paid family leave and addressing climate change.”
Another thing this Biden’s Build Back Better agenda addresses is housing costs.
Homelessness is a major issue facing Americans today, so it’s nice to see a president actually addressing it. The spending bill will use tax credits and government financing to bolster affordable and resilient housing, supporting the construction and rehabilitation of more than two million homes.
Aside from the numerous social programs, Build Back Better also seeks out to invest in jobs, climate and schools. The President’s plan would create union jobs in the renewable energy sector and also address teacher shortages.
Build Back Better also advocates for free school meals for children with upgraded school infrastructure. These policies will help Americans get jobs but also help children have better school experiences.
There’s always the question of how the government will pay for it. The answer is that the wealthy would be taxed more. The top marginal rate would rise to 39.6 percent.
It’s not like these tax rates are unprecedented, far from it, during the Eisenhower years the top marginal tax rate was as high as 90 percent. The tax changes aren’t just raising as there are tax cuts for families with children and workers without children. The burden will be put on those who can actually pay for it.
This bill is crucial for all Americans but especially crucial for college-aged individuals and young adults who will have to see the consequences of climate in-action if climate legislation doesn’t pass.
As these young people enter the workforce, hopefully, they will enter a workforce full of productive union jobs where they don’t have to worry about going bankrupt to pay for healthcare or childcare. This bill is important, especially for the younger generation.
The Biden Administration’s Build Back Better agenda needs to pass if this country wants to prepare for the future. The United States needs an economic and social system that works for everyone, not just the super-wealthy.
Fernando Rivera is an Economics sophomore who can be reached at [email protected]
