Biden vows to repeal Trump tax cuts on 'Day One' if he captures White House

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Joe Biden suggests he will repeal Trump's tax cuts if elected

Joe Biden speaks at the South Carolina Democratic Convention.

Former Vice President and current presidential candidate Joe Biden promised Saturday that on "Day One" of a Biden presidency he would repeal President Trump's 2017 tax cuts and close $500 billion on tax loopholes.

Speaking at the South Carolina Democratic Party Convention, Biden said that "Income inequities are at an all-time high and made worse by Trump's tax cuts and enormous giveaways to the top one-tenth of the 1 percent ... and it's time we start to reward work over wealth."

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Outlining his policy proposals in this visit to the early primary state, Biden said the GOP-backed tax cuts, which have been heavily criticized in some quarters as beneficial only to the rich, have no socially redeeming value. He vowed to "put that money to good use."

Biden promised that, among other things, residual funds from the tax break would be put toward initiatives such as green energy research and development, two-year college tuition grants and a public-option health insurance plan.

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The 2020 hopeful also proposed an $8,000-per-child credit for child care. In addition, he promised to increase Title I funding for schools with high numbers of low-income students, and to allocate between $15 billion and $45 billion to expand universal pre-K, raise teachers' pay, fully fund special education and double the number of school psychologists, guidance counselors and nurses to support public school systems.

Biden also reiterated his plan to implement a public health care option like Medicare, which would guarantee that low-income individuals have health coverage.

Biden continues to lead the polls in a field of some two-dozen Democratic contenders.