Write a summary about joe biden Speech about the taxes and the economic system

American Family Plan

The plan includes proposals to increase taxes for wealthy individuals, including a substantially higher capital gains rate, to help pay for the plan's programs. These programs would provide American children four additional years of free education; two years of free pre-kindergarten for three- and four-year-olds and two years of free community college;

This plan would effectively reverse Donald Trump’s 2017 income tax cut for highest income earners.

The plan would also nearly double taxes on capital gains to 39.6% for people earning more than $1m.

This plan will not affect any family earning less than $400,000 a year.

In some states which impose their own capital gains tax, the total bill some investors could face might exceed 50%.

The plan is widely expected to encounter resistance from Republicans in Congress. Although the Democrats hold a slim majority, they may not support the plan unanimously.

The American Rescue Plan (entaced)

It will provide cash payments to individuals and also include a number of individual tax law changes benefitting lower-income individuals and families that were part of his election campaign tax policy.

The American Jobs Plan (proposed)

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