PRESIDENT BIDEN: “INVEST IN AMERICA”
Biden Urges Investment In America’s Middle Class in State of the Union Address
WASHINGTON, DC – Last night in his State of the Union Address, President Biden highlighted his strong economic record after a year in office, including a record 6.6 million jobs created and the lowest unemployment in 52 years.
Biden also urged Congress to move on dozens of commonsense priorities that would invest in America’s middle class, lower costs for families, and strengthen American manufacturing. As the President said, it’s time to “Invest in America.”
We could not agree more. Take a look at some of the highlights:
“First – cut the cost of prescription drugs. Just look at insulin … For Joshua, and for the 200,000 other young people with Type 1 diabetes, let’s cap the cost of insulin at $35 a month so everyone can afford it. Drug companies will still do very well. And while we’re at it, let Medicare negotiate lower prices for prescription drugs, like the VA already does.”
“Second – cut energy costs for families an average of $500 a year by combatting climate change. Let’s provide investments and tax credits to weatherize your homes and businesses to be energy efficient and you get a tax credit; double America’s clean energy production in solar, wind, and so much more; lower the price of electric vehicles, saving you another $80 a month because you’ll never have to pay at the gas pump again.”
“Third – cut the cost of child care. Many families pay up to $14,000 a year for child care per child. Middle-class and working families shouldn’t have to pay more than 7% of their income for care of young children. My plan will cut the cost in half for most families and help parents, including millions of women, who left the workforce during the pandemic because they couldn’t afford child care, to be able to get back to work.”
“My plan doesn’t stop there. It also includes home and long-term care. More affordable housing. And Pre-K for every 3- and 4-year-old. All of these will lower costs.”
More key quotes:
“17 Nobel laureates in economics say my plan will ease long-term inflationary pressures. Top business leaders and most Americans support my plan.”
“Nobody earning less than $400,000 a year will pay an additional penny in new taxes. Nobody. The one thing all Americans agree on is that the tax system is not fair.”
“I’m a capitalist, but capitalism without competition isn’t capitalism. It’s exploitation—and it drives up prices.”
The President’s agenda could not be clearer: we must invest in the American middle class to lower costs and build an economy that works for everyone.
That’s a message we wholeheartedly endorse.
About Invest in America
Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.
The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.