NEW YORK (CNN) -- Here are some of the White House's proposals:
1. Child care assistance
The administration is considering nearly doubling the child care tax credit for families earning less than $85,000. Families earning up to $115,000 will see an increase in their child care tax credit.
According to the administration, two-thirds of families with children are headed by working parents or a single working parent.
2. College affordability
The White House's proposal would limit loan payments to 10% of discretionary income, expanding the current income-based repayment plan. Mark Kantrowitz of Finaid.org estimates this could cost the government $400 to $500 million over the next ten years.
3. Retirement security
A proposal would expand the savers tax credit, matching 50% of the first $1,000 of contributions for those who making $65,000 or less. The government would also promote annuities and other forms of lifetime "guaranteed" income.
The proposal also calls for improved disclosure of 401(k) fees.
4. Elder care assistance
The administration is also advocating increasing the funding for caregiver support programs. It would provide more funds for adult daycare, in home services and transportation.
-- CNN's Jen Haley contributed to this article.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.01%||4.05%|
|15 yr fixed||3.19%||3.23%|
|30 yr refi||4.01%||4.07%|
|15 yr refi||3.19%||3.24%|
Today's featured rates:
SpaceX is about to put the very core of its business model to the test: Reusable rockets. More
U.S. consumers are more upbeat. But rising confidence levels aren't always a good thing. Consumers were giddy just before recessions in 2001 and 2008. Trump will need to live up to his promise to get economic growth revved up again. More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More
Lots of retirees have a hard time making the transition from saving to spending. More