Biden's proposed paid leave plan gives $4,000, 12 weeks off, but who pays for it?

Beyond the paid leave policy for workers, Biden is asking Congress to pass a bill that would allow employers to give workers seven paid sick days a year.

In his first State of the Union address, President Joe Biden on Wednesday is expected to propose a $1.8 trillion spending and tax credits plan that will include what is anticipated to include a significant paid leave policy for all workers.

The national paid family and medical leave program would be implemented over the course of 10 years and would guarantee workers 12 weeks of paid leave so that they can "take time to bond with a new child, care for a seriously ill loved one, deal with a loved one's military deployment, find safety from sexual assault, stalking, or domestic violence, heal from their own serious illness, or take time to deal with the death of a loved one."

Workers would receive up to $4,000 a month with a minimum of two-thirds of average weekly wages replaced, increasing to 80% for the lowest wage workers, the White House's initial release about the policy said.

Through the program, workers would also receive three days of bereavement leave per year, starting in year one.

Biden has often discussed grief during his presidency, speaking about the loss of his son Beau to brain cancer. He has also stressed loss during the pandemic, and pushed for Americans to get vaccinated to save lives.

Beyond the paid leave policy for workers, Biden is asking Congress to pass a bill that would allow employers to give workers seven paid sick days a year. Employers with 50 or more employees are required under The Family and Medical Leave Act of 1993 to provide up to 12 weeks of unpaid leave.

The national family and medical paid leave program would cost about $225 billion over a decade, which the White House said would primarily be covered through increases in taxes on the wealthy, which many Republicans oppose, CNBC noted.

CNBC also noted that fewer than one in five workers have access to paid family or paternal leave, with fewer than half offered paid medical leave.

Biden will present his American Families Plan on Wednesday at 9 p.m ET.