Biden proposes to fund caregiver plan by changing tax treatment of like-kind exchanges

By NREI Staff | National Real Estate Investor

Joe Biden, the presumptive Democratic candidate for president, today unveiled a 10-year, $775 billion plan to fund universal childcare and in-home elder care that would be paid for by taxing real estate investors.

During a live appearance in Delaware this afternoon, Biden said the plan is “about easing the squeeze on working families who are raising their kids and caring for their older loved ones at the same time.” He described the current situation as a “care-giving crisis within an economic crisis within a healthcare crisis.”

The details on the funding mechanism are scarce. The 10-page plan only mentions the tax once, saying it “will be paid for by rolling back unproductive and unequal tax breaks for real estate investors with incomes over $400,000 and taking steps to increase tax compliance for high-income earners.”

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