Watch live: Biden proposes $775 billion, 10-year plan focused on child and elder care

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Former Vice President Joe Biden is slated to deliver remarks Tuesday on an economic agenda that seeks to funnel $775 billion over 10 years into rebuilding and fortifying caregiving.

The initiative, called the "21st Century Caregiving and Education Workforce" plan, is part of a sweeping economic agenda laid out in recent weeks by Biden, the presumptive Democratic nominee. It focuses on early childhood daycare, in-home elder care and long-term care for people who are disabled.

The initiative is the third pillar of Biden's "Build Back Better" economic agenda released earlier this month to combat the economic distress caused by the coronavirus pandemic. 

The campaign has not given specific information on where the money to fund this initiative will come from, but an early released outline said 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." 

Under this plan, state, local and tribal governments would receive emergency funding, allowing them to maintain struggling childcare centers and support home care workers as the pandemic rages on. 

The plan also calls for an expansion of childcare for children up to five years old, as well as an expansion of care options for people who are elderly or disabled. 

The coronavirus outbreak has spread worldwide, with more than 14.7 million confirmed cases and over 610,560 deaths, according to data from Johns Hopkins University. The U.S. has had more than 3.8 million cases and  at least 140,909 deaths, according to the latest tallies, more than any other country. 

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