President Joe Biden’s next economic recovery package will cost at least $1 trillion and extend the beefed-up child tax credit, a source familiar with the proposal confirmed Tuesday.
Biden is set to follow the first phase of his infrastructure plan, a more than $2 trillion proposal, with a package known as the American Families Plan. While details are still in flux, the measure is expected to include roughly $1 trillion in new spending and $500 billion in tax credits, according to the source, who declined to be named.
The White House is expected to roll out the plan within days.
