Historic Progress to Create Jobs, Promote Workers, and Transition to Steady and Stable Growth And, the President will preview the budget he will send to Congress on March 9, which will build on the historic economic progress of the past two years by continuing to invest in America and its people, continuing to lower costs for families-from child care to housing to college to health care-protecting and strengthening Social Security and Medicare, and reducing the deficit through additional reforms to ensure the wealthy and largest corporations pay their fair share. He will discuss the work to come to implement his historic investment agenda in a way that benefits all Americans. He will say that we need to build on this work to continue growing our economy and lowering costs.
President Biden knows that the work to build an economy from the bottom up and middle out is far from done. Under President Biden, the deficit has fallen by $1.7 trillion, and his reforms to take on Big Pharma, lower prescription drug costs, and make the wealthy and large corporations pay their fair share will reduce the deficit by hundreds of billions more. President Biden’s predecessor passed a nearly $2 trillion unpaid for tax cut with benefits skewed to the wealthy and large corporations, and the deficit went up every single year under his watch. He will outline the manufacturing boom across the country-in infrastructure, semi-conductors, and clean energy-that is strengthening parts of the country left behind and creating good jobs, including for workers without college degrees.Īnd, he will emphasize that his economic strategy has been a fiscally responsible one. He will discuss progress lowering costs and providing more breathing room for families, including cutting prescription drug costs, health insurance premiums, and energy bills, while driving the uninsured rate to historic lows. Tomorrow night, President Biden will highlight the historic progress we have made to bring the economy back from the pandemic and create more jobs in a two-year period than under any other president on record. Our progress over the last two years shows that his economic strategy is working.
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He believes the best way to grow the economy, create good-paying jobs, and lower costs for families is by promoting workers, investing in America and its people, making the economy more competitive, and reforming the tax code to reward work and not wealth. As the President says, when the middle class does well, the poor have a ladder up and the wealthy still do very well. President Biden has long believed that we must build the economy from the bottom up and middle out, not the top down. Get Involved Show submenu for “Get Involved””.The White House Show submenu for “The White House””.Office of the United States Trade Representative.Office of Science and Technology Policy.Executive Offices Show submenu for “Executive Offices””.Administration Show submenu for “Administration””.
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