President Joe Biden tried to restart its domestic agenda Tuesday night during a speech on the state of the Union, urging Congress to pass legislation that will cut costs for the American people, promising that “my top priority is to control prices.”
“So many families live from paycheck to paycheck, struggling to cope with rising food, gas, housing and more,” the president said in a statement. ‘inflation it robs them of the gains they might otherwise feel. I understand. That is why my main priority is to control prices.
Americans saw record high gas and food prices as the pandemic approached, with inflation reaching 7.5 percent in January.
Many of Biden’s domestic policy ideas reflect his signature of the Build Back Better Act, his social services bill of approximately $ 2 trillion. However, the account is stagnant in Senate and almost dead after Democrat Sen. Joe Manchin refused to support him, citing concerns about his spending.
But Biden says his plan will “cut your costs, not your salaries.” He called on Congress to adopt incentives to help fight climate change, reduce the cost of prescription drugs, reduce childcare costs, offer more affordable housing and have a Pre-K for every 3rd and 4-year-old child.
“I call this building a better America,” Biden said to loud applause.
The president outlined his vision for the nation as the number of polls dwindled, Americans suffered from covid fatigue and the price of food and gas rose dramatically. Democrats are worried that disappointing voters will lead to the loss of the House of Representatives and the Senate in November.
“My plan to fight inflation will reduce your spending and reduce your deficit,” Biden said.
President Biden said in his address on the state of the Union that “my top priority is to control prices”
President Biden is preparing to address the nation
Lawmakers crowd the aisles of the House of Commons to shake hands with Biden
Biden’s plan to cut costs for Americans
In his address on the state of the Union on Tuesday night, President Joe Biden outlined his plan to help cut spending on the American people:
Make more cars and semiconductors in America
Lower costs, not wages
Reduce the deficit by half from the level it was when he took office
Produce and sell more products in America
Increase the maximum Pell Grant by $ 2,000
Raise the federal minimum wage to $ 15 per hour
Lower costs for prescription drugs
Reduce childcare costs
Combating climate change
More affordable housing
Biden sought to have a positive effect on economic governance, citing his successful US bailout plan and bipartisan infrastructure law that created 6.5 million jobs and strong economic growth during his presidency.
He also blamed Republicans – and perhaps also a blow to Donald Trump’s tax cuts – for saying the emerging economy was not working.
“For the past 40 years, we’ve been told that if we give tax breaks to those at the top, the benefits will be shared with everyone else,” Biden said. “But this downward theory has led to weaker economic growth, lower wages, bigger deficits, and the biggest difference between those at the top and everyone else for nearly a century.”
Biden says the infrastructure bill will provide jobs for “millions of Americans.”
“This will transform America and put us on track to win the 21st century economic competition we face with the rest of the world – especially China,” Biden said, referring to the United States’ trade rival.
“We will create good jobs for millions of Americans by modernizing roads, airports, ports and waterways across America,” he said.
He promised that his administration would begin repairing more than 65,000 miles of highways and 1,500 bridges in disrepair this year alone.
Biden also outlined other initiatives: buying American, increasing the Pell Grant maximum by $ 2,000, raising the federal minimum wage to $ 15 an hour, and creating a national paid family leave program.
Biden’s approval rating reached one of the lowest points of his presidency and the disappointment of his constituents with his rule with the economy that leads those numbers.
Only 37% say they approve of Biden’s job as president, according to a Washington Post-ABC News poll published on Sunday with 55% disapproval.
And 54% say the economy is worse off at Biden, while 36% say they are personally worse off.
Meanwhile, 36% of voters said in a CBS News poll that things were going “very badly” in America, and only 27% said things were going “somewhat well.” And 63% describe the economy as “bad”.
Americans are facing rising prices in grocery stores and the gas station as the economy struggles to recover from the Covid pandemic and Russia’s invasion of Ukraine raises energy prices.
Inflation reached a record 7.5% in January, rising for six consecutive months. It has not been so high since 1980.
Inflation reached a 40-year high of 7.5 percent, the Department of Labor said, a figure not seen by the Reagan administration
Biden is expected to come face to face with inflation in his speech Tuesday night, saying he has a “better plan to fight inflation”.
Pump prices rose 40 percent in January. Financial tensions have intensified in recent weeks as Russia, one of the world’s largest fossil fuel producers, invades Ukraine
Gasoline prices rose 40 percent last month after Vladimir Putin invaded Ukraine. Russia is the second largest exporter of oil after Saudi Arabia and is the world’s largest producer of natural gas.
In response to rising prices, the United States and its 30 fellow members of the International Energy Agency agreed on Tuesday to release 60 million barrels of their oil reserves.
Initially, the president intended to focus his speech on his legislative agenda, economic plans and the Covid pandemic in his speeches, but Russia’s invasion of Ukraine caused a reversal.
But the situation in Ukraine has changed.