Biden: “We need a system that is as effective and as good as any system that we’ve had in the United States, and that will be the most effective system that the country has.”
The Biden administration, like other federal agencies, must seek to balance a federal budget that stands at more than $1 trillion over the next 10 years.
But Biden, who was elected in 2016, has said that the budget surplus he promised during his first term has been “obligated” by a reduction in spending.
In the past few months, Biden has tried to address concerns about a lack of support for public education.
In a speech last month, he called for the “full implementation of a universal pre-K program in every state, and the implementation of the Pell Grant, which is a $1,600 Pell Grant that every kid in every community can use.”
At the same time, Biden announced plans to double funding for community colleges to $1 billion and double funding to the Pell Grants.
As the president has announced his plans to spend $2.5 trillion over 10 years, it has been an open question whether he will be able to meet his $1.5-trillion spending goal.
During a speech in September, Biden said that he will make “significant cuts” in funding for the Department of Education, and he has proposed a “pathway to permanent debt relief.”
In a speech on Thursday, Biden proposed eliminating a variety of tax breaks that were included in the 2016 budget, including a “job creator tax credit” for businesses, and a tax credit for student loans.
The goal is to make the program more like the Earned Income Tax Credit (EITC), which is credited to employees’ wages.
Biden’s proposal calls for the elimination of a deduction for interest on student loans, which could save billions of dollars.
The president has previously said he would not eliminate the EITC, and his administration has said it would keep it in place.
The administration has also said it is looking to increase the size of the Earneds Credit, which it said would be available to low-income families.
On Friday, Biden met with the CEOs of Wells Fargo and Citigroup, the largest employers of public school students, to discuss their interest in expanding the program.
Some experts say the education secretary will be a good pick for the job.
“The president should have an interest in someone who has experience in education, who can work with the business community, and who has a record of making decisions that support students, especially kids who are struggling,” said David Mott, president of the National Education Association.
“It’s a great candidate.”