In Cleveland, Ohio, President Biden talks the economy, infrastructure, and bringing jobs back to America.
President Biden delivered remarks on the economy today in Cleveland, Ohio. The President spotlighted his $1.7 trillion American Jobs Plan and a post-COVID-19 economy.
The speech covered Biden’s infrastructural goals from the internet to education, but with one throughline: Make it in America. His American-focused job push took him to the blue-collar area of Cleveland, Ohio.
Biden took the stage in the manufacturing facility of Cuyahoga Community College, a destination he had planned to visit on the campaign trail in March 2020 before quarantine halted in-person events.
The bottom line is this: The Biden economic plan is working. We’ve had record job creation. We’re seeing record economic growth.
We’re creating a new paradigm.
— President Biden (@POTUS) May 27, 2021
The onset of COVID-19 caused widespread economic struggle, and many Americans lost their jobs as businesses closed their doors across the nation. Today, with COVID-19 cases down by 83% and millions of Americans vaccinated, Biden shifts focus towards economic growth.
In the past three months of Biden’s tenure, over 1.5 million jobs have been created, unemployment claims have been cut in half, and the number of hungry Americans has drastically reduced. A Harvard poll reveals that 62% of people approve of Biden’s handling of the economy and stimulating jobs.
“We had to beat the pandemic to bring the economy back,” said Biden, and as businesses reopen Biden aims to achieve his goal of “Building Back Better”.
Trickle-down economics does not work
Biden’s remarks focused on the middle class and the necessity of building the economy from the bottom up and middle out, instead of trickle-down economics. According to Reuters, 51% of all Americans believe trickle-down economics has never worked in America.
Instead of that system, Biden asserted his plan was the right way to invest. The American Jobs Plan would bolster American infrastructure. Currently, the U.S. is only rated 13th in the world for infrastructure.
Biden called for broad infrastructural change like highways, universal high-speed internet, and raising the minimum wage to $15. He also pushed for two years of free community college and expanded pre-K for all.
— Doug Mills (@dougmillsnyt) May 27, 2021
As he explained his plans, Biden jokingly mentioned the Republicans who fought against it. Prior to the President’s remarks, Republicans introduced a $928 billion infrastructure counteroffer.
The proposals are closer in cost than ever before, but the source of the funds is still different. Republicans plan to source their funding from repurposed funds Congress approved for other projects, while Biden plans to pay for the spending with an increase in corporate tax to 28%.
Biden said that he only hopes to make CEOs pay their “fair share”, and that the tax would ultimately benefit the economy as Americans pocket more spending money. According to the Economist, 62% of Americans believe it’s more important for the government to spend money on programs that could create jobs and improve the economy, even if taxes increase.
While COVID-19 is far from over, Biden remained optimistic about the growing U.S. economy.
“To put it simply, America’s coming back,” said Biden.