President Biden is expected to give a speech Tuesday afternoon to highlight his economic policies and argue that they are more effective than the kind of tax cuts the incoming Trump administration would implement.
Biden is scheduled to deliver what White House officials are calling a “major address on his economic legacy” at the Brookings Institution in Washington, D.C., where he will focus on infrastructure, manufacturing and communities during his term. He is expected to brag about his legislative investments and job creation. 4 years in office.
The White House has frequently emphasized economic indicators and argued that Biden will leave office with a much stronger economy than the one he inherited in January 2020, at the height of the pandemic. White House officials pointed to the creation of 16 million jobs, 20 million new business applications, record highs in the stock market, and more than $1 trillion in private sector investments in clean energy and manufacturing.
But Biden's presidency has been hampered by stubborn inflation, with rising costs contributing to voter dissatisfaction and ultimately helping to return President-elect Trump to the White House.
President Trump intends to extend tax cuts first passed during his first term in 2017, push for lower corporate tax rates, impose tariffs on foreign imports and make deep cuts in regulation and federal spending. Suggests.
White House officials said Mr. Biden's speech on Tuesday marked the country's tipping point between continued investment in the middle class, support for labor unions and a return to “trickle-down economics” with tax cuts and cuts for the wealthy. He said he would explain what he was facing. For government investment nationwide.
Tuesday's speech comes as Biden and his staff seek to highlight his accomplishments and make the most of his final weeks in office. Biden visited Africa last week. It was a capstone foreign policy trip, fulfilling his pledge to visit the African continent in 2022 while in office.
White House Chief of Staff Jeff Zients penned a memo to staff on Monday outlining plans for the administration's final roughly 40 days. These include judicial approval, final decisions and actions on investments appropriated by the American Rescue Plan, the Inflation Control Act and other laws. About artificial intelligence and climate.
