President Joe Biden is set to address Congress and the nation in his upcoming State of the Union speech, focusing on various economic issues such as taxes, housing, and eliminating "junk fees."

Photo by(Prachatai/Flickr)

His administration aims to provide relief to American families by prioritizing certain policy changes.

Efforts to Restore Expanded Child Tax Credit

The Biden administration is gearing up to tackle economic challenges by addressing issues like the housing crisis and advocating for the revival of the expanded child tax credit.

Top White House economic officials have emphasized the importance of providing financial support to families across the country, particularly those with children, in an effort to alleviate financial burdens.

Proposed Tax Policies and Housing Reforms

In his speech, President Biden will advocate for tax policies that benefit working-class Americans rather than large corporations, aiming to restore the child tax credit and make adjustments to the U.S. tax code.

Additionally, the administration is looking into measures to address the housing affordability crisis, including reducing closing costs for homebuyers and increasing the supply of affordable housing.

Addressing Junk Fees and Tax Code Reforms

The White House is committed to cracking down on "junk fees" that burden consumers and has already implemented rules to cap certain fees.

President Biden will highlight ongoing efforts to combat these practices and promote financial fairness.

There will also be a push in Congress to make necessary changes to the tax code to benefit lower and middle-income Americans.

What Are Your Thoughts?

• How do you feel about President Biden’s focus on economic issues in his State of the Union address?
• Do you support the reinstatement of the expanded child tax credit?
• What are your thoughts on the proposed tax policies and housing reforms?
• How do you believe the government should address issues related to "junk fees" in various industries?

Share your thoughts and opinions in the comments below!