What The Build Back Better Framework Will Deliver for North Carolina
The Build Back Better framework will be of great benefit to families in North Carolina by cutting taxes and making child care, home care, education, health care, and housing more affordable. These investments will provide new learning opportunities for children, help parents and especially working parents make ends meet, and position the economy for stronger growth for years to come. The framework will create good-paying jobs for residents of North Carolina, combat climate change, give our kids cleaner air and water, and make America the leader in global innovation and 21st-century manufacturing.
Build Back Better delivers the largest investment in child care and early education in history. Providing access to affordable child care. Child care is a major strain for families in North Carolina, where the average annual cost of a child care center for a toddler is $8,746, meaning that a North Carolina family with two young children would on average spend 21% of their income on child care for one year.
The Build Back Better framework will also enable North Carolina to expand access to free, high-quality preschool to more than 154,103 additional 3- and 4-year-olds per year and increase the quality of preschool for children who are already enrolled
The framework represents the largest ever single investment in our clean energy economy—across buildings, transportation, industry, electricity, agriculture, and climate-smart practices in our lands and waters.
The Build Back Better framework invests in training programs that will prepare North Carolina’s workers for high-quality jobs in fast-growing sectors like public health, child care, manufacturing, IT, and clean energy. 59 public community colleges in North Carolina will have the opportunity to benefit from grants to develop and deliver innovative training programs and expand proven ones.
The Build Back Better Framework will reduce housing costs and expand housing options. 632,000 renters in North Carolina are rent-burdened, meaning they spend more than 30% of their income on rent, while homeownership remains out of reach for many families.
The Build Back Better framework will close the Medicaid coverage gap to help millions of Americans gain health insurance, extend through 2025 the American Rescue Plan’s health insurance premium reductions for those who buy coverage on their own, and help older Americans access affordable hearing care by expanding Medicare. In North Carolina, that means 388,000 uninsured people will gain coverage, including the 212,000 who fell into. the Medicaid coverage gap, and 229,100 will on average save hundreds of dollars per year.
The Build Back Better framework will bolster financial security and spur economic growth in North Carolina by reducing taxes on the middle class and those striving to break into it. The framework will extend Child Tax Credit (CTC) increases of $300/month per child under 6 or $250/month per child ages 6 to 17