Legislative News

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Tempe Chamber of Commerce Week of November 19, 2021

 

Today, the U.S. House of Representatives passed the $1.75 trillion federal reconciliation bill, also known as the "Build Back Better Act," after months of negotiations. The funding will largely come from a mix of corporate and individual revenue raising measures. Below is a breakdown of the spending package:

Universal Pre-Kindergarten - $381.5 billion

Child Care - $381.5 billion

Paid Family & Sick Leave - $194 billion

Enhanced Child Tax Credit - $203 billion

Earned Income Tax Credit - $203 billion

Home Health Care - $158 billion

Affordable Care Act subsidies - $74 billion

Medicaid Coverage Gap - $57 billion

Medicare Hearing Benefits - $36.7 billion

Climate Change - $570 billion

Affordable Housing - $148.1 billion

Pell Grants - $39.8 billion

Children's Nutrition - $9 billion

Immigration - $100 billion