Biden to push Congress for trillions in investment

U.S. President Joe Biden will announce a sweeping $1.8 trillion package for families and education in his first joint speech to Congress on Wednesday.

Biden will argue that the new package – along with his massive infrastructure - is a once-in-a-generation investment vital to America's future.

To pay for what is billed as the "American Families Plan," the administration proposes raising taxes on the incomes of the wealthiest Americans, and doubling the tax rates on investment income – known as capital gains - for those earning more than $1 million a year.

The new funds would help pay for school lunches, child care, family leave and two years of free community college.

The Biden administration is pushing to expand anti-poverty measures in the wake of the health crisis, which led to millions of lost jobs and saw a spike in family hunger, in part because poor children who relied on school lunches were suddenly forced to learn remotely.

But Republican lawmakers have already rejected the $2 trillion-plus infrastructure plan as too large.

The Democratic president is gambling that his spending plans, which are largely popular with American voters, can sway Republicans in Congress to cooperate with the White House.