10 things you didn't know are in the Democrats' Build Back Better bill

CNN ^ | December 8, 2021 | Katie Lobosco and Tami Luhby

[lowbridge]

A sweeping $1.9 trillion spending plan, known as the Build Back Better bill, is making its way through Congress and could make a key part of President Joe Biden's economic agenda a reality.

A majority of the funding is focused on transforming the nation's social safety net by reducing the cost of child and health care, as well as combating climate change.

The Congressional Budget Office estimates that the legislation would increase the deficit by $367 billion over the next 10 years. But the White House has worked to make the case that the bill will be fully paid for when accounting for a proposal to enhance tax enforcement, which the CBO excluded.

The bill passed the House in November but faces a tough road in the Senate, where it is expected to undergo some changes. As currently written, the legislation would create universal pre-K, send families an enhanced child tax credit and provide beefed-up subsidies on the Affordable Care Act exchanges.

Here are 10 of the lesser-known provisions in the Build Back Better bill.

$900 tax credit for purchasing an e-bike

Taxpayers would be allowed to claim a tax credit for purchasing an e-bike before 2026, if the bill passes. It's one of many provisions in the spending package aimed at combating the climate crisis.

The credit would be equal to 30% of the purchase cost, up to $900. It would gradually phase out for higher-income households, starting at $75,000 of income for individuals.

The bill would also allow companies to provide tax-free commuting benefits for employees using a bike, e-bike or scooter to get to work.

$35 cap on insulin costs

[nascarnation]

I think it was about a grand or so.

[Billthedrill]

CNN keeps using the formulation “Climate Crisis” as if it were - gasp! - settled science. Annoying.