• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50

3

Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50

3

Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
SuccessEconomy

Biden never forgot ‘Build Back Better.’ Top aide says he has ‘unfinished business’ to crack the childcare crisis and help the sandwich generation

By
Chris Megerian
Chris Megerian
,
Moriah Balingit
Moriah Balingit
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Chris Megerian
Chris Megerian
,
Moriah Balingit
Moriah Balingit
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
May 8, 2024, 7:46 AM ET
Joe Biden
President Joe Biden delivers remarks on proposed spending on child care and other investments in the "care economy" during a rally at Union Station, April 9, 2024, in Washington. Evan Vucci—AP Images

As President Joe Biden runs for reelection, he’s resurrecting proposals to reshape American life from the cradle to the grave by lowering the cost of child care, expanding preschool opportunities and making home aides more available to the elderly.

Recommended Video

The initiatives were once part of Build Back Better, Biden’s gargantuan legislative agenda that stalled on Capitol Hill two years ago. Now they’re what Neera Tanden, the Democratic president’s top domestic policy adviser, describes as “unfinished business.”

Although the White House has tried to advance these ideas in a piecemeal fashion through regulations and executive orders, Biden hopes to have another opportunity to push more ambitious legislation through Congress in a second term.

PRESSURES ON THE ‘SANDWICH GENERATION’

As Biden faces blowback for inflation under his watch, his team sees an opportunity to promise lower costs for voters who are part of the “sandwich generation” — those responsible for young children and aging parents at the same time.

Proposals involving what’s collectively known as the care economy might prove particularly potent with women, who are more likely to hold low-paying jobs as caregivers or see their careers sidelined by the need to take care of family members. If successful, Biden would bring the United States more in line with other wealthy countries, where generous safety net programs are the norm.

“There are elements of our policies that tend to keep us back,” Tanden said in an interview with The Associated Press. “Families need to scrounge around for child care, and they make those hard decisions about whether they can really have everyone working in the family or not.”

Biden wants to pour hundreds of billions of dollars into nationwide paid family leave, federal subsidies for child care, universal preschool access and home care for the elderly and disabled.

The challenge is convincing Americans — and their representatives on Capitol Hill — that caregiving is not a private issue but an economic one that could be foundational to higher employment and better opportunities. In 2022, more than 11% of parents had to turn down a job, leave a job or change their job because of child care issues.

“If we want the best economy in the world, we have to have the best caregiving economy in the world,” Biden said last month in a speech to care workers and others in Washington. “We really do. They are not inconsistent. They are consistent.”

RESISTANCE ON CAPITOL HILL

His goals have proved elusive. Republicans have bristled at the high cost of Biden’s proposals and his plan to fund them by raising taxes on the wealthy. They’re also concerned that efforts to raise pay for child care workers could end up increasing costs for families who make too much money to qualify for a subsidy program.

Even a united front among Democrats is hard to achieve. Although Sen. Joe Manchin, D-W.Va., has been a supporter of preschool and child care programs, Biden was unable to get him on board with other parts of his Build Back Better agenda earlier in his term, a fatal stumbling block due to the party’s thin margins on Capitol Hill.

Because of Manchin’s resistance, several proposals involving the care economy were jettisoned to create the more limited Inflation Reduction Act, which focused on addressing climate change and the cost of prescription drugs.

WITH LEGISLATION STALLED, LOOKING FOR WORKAROUNDS

Tanden said the White House was forced to find other ways to push forward Biden’s ideas.

“Our view is that we should make progress wherever we can,” she said. “So when the legislation wasn’t passed, we got to work on an executive order that really was forward-leaning across the government.”

The order, which was announced a little more than a year ago, raised pay for teachers in federally funded Head Start programs and lowered costs for families receiving federal child care subsidies. It also aimed to improve child care for parents in the military and provide better home care for veterans.

Biden announced it in a Rose Garden ceremony, where he described the care economy as “fundamental to who we are as a nation.”

The president talks about the issue in personal terms. Soon after he was elected to the U.S. Senate in 1972, his first wife and baby daughter were killed in a car accident, and his two sons — nearly 3 and 4 years old at the time — were badly injured.

“My sister and her husband gave up their home and moved into where I lived just to be there to help me with my kids,” he said. “Folks, you know, I couldn’t have done it without their help. I couldn’t have made it.”

Despite the legislative hurdles and divided control of Congress, Democrats succeeded in getting an additional $1 billion for Head Start preschool and child care subsidies for low-income families.

DUSTING OFF BIDEN’S PITCH FOR THE ELECTION

James Singer, a spokesman for the Biden campaign, said that bolstering the care economy will be central to the president’s pitch to voters, drawing on his upbringing in a working-class area of Pennsylvania.

“President Biden sees the world from kitchen tables in Scranton, and will finish the job to give families more breathing room at the end of the month, including by tackling the high costs of child and elder care,” Singer said.

The Trump campaign did not respond to requests for comment, and Trump has not focused on care economy issues as he runs for another term.

Ai-jen Poo, president of the National Domestic Workers Alliance, a group that promotes the rights of such workers in the U.S., said the administration is pulling “every lever that they can” to make progress.

“They’ve done the maximum, I think, of what can be done short of Congress actually putting more funding in the system,” she said.

Josh Bivens, the chief economist at the Economic Policy Institute, a liberal think tank, singled out a new regulation increasing standards for staffing nursing homes.

“It was also a big political fight against a pretty powerful industry,” Bivens said, adding that the White House gets “some real credit for not watering the rule down to irrelevance or even just dropping it.”

However, he said, more progress would need to come through legislation because the central challenge is financial. Americans need help at points where they’re strapped for cash, such as when they have young children or are elderly and no longer working.

“The money has to come from somewhere and that somewhere to me is the public sector, financed by taxes,” Bivens said. Without legislation, “they are not going to move the dial a ton on this.”

PROPOSALS TO TARGET ASSISTANCE BY HOUSEHOLD INCOME

The president’s latest budget request would provide generous child care subsidies for households that make less than $200,000 a year so that they would pay around $10 or less a day, with the poorest families paying nothing. It would also dedicate funding to creating more preschools. Biden has asked for nearly $15 billion for the programs, but it’s unlikely to even be considered by Congress, where Republicans control the House.

Scott Lincicome, vice president of general economics at the libertarian Cato Institute, said Biden is approaching these issues from the wrong perspective.

By flooding these sectors with money, he said, “you’re actually going to end up with higher prices and not more access.”

The best approach is to reduce regulation, such as allowing child care workers to take care of another child, reducing overall costs, Lincicome said.

“There’s plenty of policy reforms to be had,” he said. “It’s just very rarely going to be D.C. creating another program.”

___

The Associated Press’ education coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
About the Authors
By Chris Megerian
See full bioRight Arrow Button Icon
By Moriah Balingit
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Success

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Success

40 is the new 50: Millennial jobseekers are giving their resumes a facelift by hiding years of experience to land jobs
Future of WorkCareers
40 is the new 50: Millennial jobseekers are giving their resumes a facelift by hiding years of experience to land jobs
By Jacqueline MunisMay 24, 2026
2 hours ago
David Bennahum
CommentaryMedia
I was one of the internet’s first influencers. AI just killed the whole category — and created something better
By David S. BennahumMay 24, 2026
5 hours ago
gf
SuccessEntrepreneurship
Meet the 32-year-old who is America’s only full-time spelling bee coach — he charges up to $180 per hour
By Ben Nuckols and The Associated PressMay 23, 2026
21 hours ago
Mel Robbins
SuccessGen Z
Millionaire podcaster Mel Robbins hits back at Gen Z’s lazy label—she says they’re stuck in a world their baby boomer parents wouldn’t even recognize
By Emma BurleighMay 23, 2026
1 day ago
Josh Smith, founder of Montana Knife Company.
SuccessEntrepreneurs
This 39-year-old quit his lineman job during the pandemic and built a $50 million company in his backyard
By Nick LichtenbergMay 23, 2026
1 day ago
Jon McNeill
SuccessCareers
Former Tesla president shares the secret to success he learned from his former boss, Elon Musk: ‘He demands to only work with world-class talent’
By Preston ForeMay 23, 2026
1 day ago

Most Popular

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
3 days ago
Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50
Success
Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50
By Preston ForeMay 22, 2026
2 days ago
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
Success
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
By Emma BurleighMay 22, 2026
2 days ago
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
AI
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
By Jake AngeloMay 22, 2026
2 days ago
Elon Musk's SpaceX IPO filing just told us what business he's betting on for the future—and it's not rockets
Investing
Elon Musk's SpaceX IPO filing just told us what business he's betting on for the future—and it's not rockets
By Shawn TullyMay 23, 2026
1 day ago
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
Future of Work
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
By Mike Householder and The Associated PressMay 17, 2026
7 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.