Factbox: What’s in Biden and Senate Democrats’ new $1.75 trillion spending framework

WASHINGTON (Reuters) – U.S. President Joe Biden will present an updated agreement on a social and climate spending plan on Thursday morning to Congress and voters.

The White House says the plan has the support of all 50 Democrats in the Senate and said it is confident this bill can pass the House too. Progressive Democrats in the House of Representatives, however, have said they want to see the full text before making any deals.

INCLUDED

*$555 billion in clean energy tax credits

*A 1% tax on corporate stock buybacks

*A 15% minimum tax on corporate profits of U.S. companies with over $1 billion in profits.

*Free preschool for 3 and 4 year olds for six years, expanded home care for elderly

NOT INCLUDED

*A proposal to allow the U.S. government to negotiate prescription drug prices to make them cheaper.

*Paid family leave

*A billionaire tax floated this week

(Reporting by Andrea Shalal)

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