But how Biden’s big tax and spending proposals would affect the economic recovery for years to come is much debated. The White House believes it can reverse these trends, which should boost growth in addition to making people’s lives easier. “These investments are the kinds of investments that will boost labor supply, particularly for women and caregivers,” said Boushey, the White House economist. The White House is also hoping to raise $700 billion in new revenue over the next decade from the Internal Revenue Service’s scrutiny of big companies and rich households. Another budget oddity is the American Families Plan only extends a key payment for families with kids for a few years.
