• President Biden is about to make his first speech to Congress – follow live updates here

    29 Apr 2021 | Economic News
  


President Biden is about to make his first speech to Congress – follow live updates here

Biden urges nationwide vaccination early in address

Biden began his speech by both imploring Americans to seek out the Covid vaccine and touting how far the inoculation effort has come in his first 100 days in office.

“After I promised 100 million Covid-19 vaccine shots in 100 days – we will have provided over 220 million Covid shots in 100 days,” the president said. “We’re marshalling every federal resource. We’ve gotten the vaccine to nearly 40,000 pharmacies and over 700 community health centers.”

“Today, 90% of Americans now live within 5 miles of a vaccination site,” he added. “Everyone over the age of 16, everyone – is now eligible and can get vaccinated right away. So get vaccinated now.”

According to the latest estimates from the Centers for Disease Control and Prevention, 54.5% of the U.S. adult population has received at least one dose of the vaccine while 37.8% are considered fully vaccinated.


Biden mixes patriotism and economics, advocates to ‘Buy American’

Biden mixed economics, patriotism and populism in his speech, saying that his policies will be premised on the idea that everyday Americans should be encouraged to “Buy American.”

Biden wants to allow Medicare to directly negotiate drug prices by this year

Biden called on Congress to take a major step toward reducing prescription drug prices this year.

The president urged lawmakers to allow Medicare to directly negotiate prices with drug companies. The move, long discussed on Capitol Hill, is expected to cut costs for consumers and save the government money.

 

Biden urges Congress to raise minimum wage to $15 an hour

Biden briefly called on Congress to pass legislation that would raise the minimum wage to $15 an hour.

“No one should work 40 hours a week and still live below the poverty line,” Biden said in his address.


‘I’m not looking to punish anybody’ — Biden makes case for tax hikes on rich

Biden’s first speech to Congress made the case for increasing the amount of taxes paid by the wealthiest Americans — a key feature of his latest economic overhaul plan.

“I’m not looking to punish anybody,” Biden said. “But I will not add to additional tax burden of the middle class of this country. They’re already paying enough.”

“I believe what I’ve proposed is fair. It’s fiscally responsible,” the president said.

The White House’s new $1.8 trillion spending package — just one part of a sweeping, $4 trillion-plus economy-boosting plan — would hike the top income tax rate to 39.6% for the wealthiest Americans and close a series of tax loopholes, among other provisions.

 

Biden on China’s Xi: ‘I made absolutely clear that I will defend American interests’

Biden in an address to Congress said that he welcomed competition with Chinese President Xi Jinping but that his administration would stand up to unfair international trade practices.

“I made absolutely clear that I will defend American interests across the board,” Biden said, adding that his administration will stand up to unfair trade practices and theft of American intellectual property.

“I also told President Xi that we will maintain a strong military presence in the Indo-Pacific just as we do with NATO in Europe – not to start conflict – but to prevent conflict,” Biden said, referencing tensions in the region.

Biden, who has previously said that his administration would work more closely with allies in order to mount pushback against China, added that he would hold Beijing to account for human rights abuses.

“America won’t back away from our commitment to human rights and fundamental freedoms. No responsible American president can remain silent when basic human rights are violated. A president has to represent the essence of our country,” Biden said.

The crumbling relationship between Washington and Beijing has intensified following an attempt by the world’s two largest economies to mend trade relations under the Trump administration.

 

Biden warns that malign Russian behavior will have consequences

President Joe Biden said Wednesday in his first address to Congress that he will hold Russian President Vladimir Putin to account for maligned behavior.

“I made very clear to President Putin that while we don’t seek escalation, their actions have consequences,” Biden said, referring to a phone call he had with the Kremlin leader.

Earlier this month, the Biden administration slapped Moscow with a raft of sanctions for allegations of meddling in U.S. elections, human rights abuses and sweeping cyberattacks on American networks. In addition, the State Department announced the expulsion of 10 officials from the Russian Embassy in Washington.

Russia described the latest moves by the White House as a blow to bilateral relations and vowed to impose swift retaliatory measures. The Kremlin also blamed the United States for weakening the diplomatic relations between Washington and Moscow.

“I responded in a direct and proportionate way to Russia’s interference in our elections and cyberattacks on our government and businesses – and they did both of those things and I did respond,” Biden said, adding “but we can also cooperate when it’s in our mutual interests.”

 

U.S. will remain vigilant against terror after Afghan withdrawal, Biden vows

Biden warned that as the U.S. exits it’s longest war in Afghanistan that America will remain viliangant against emerging threats around the globe.


Climate change is ‘a global fight’


Biden urges Congress to pass police reform by the anniversary of George Floyd’s death


Biden tells transgender Americans: ‘Your president has your back’


Biden calls Jan. 6 insurrection an ‘existential crisis’ for the U.S.


Biden finishes a wide-ranging speech with optimistic notes

Biden concluded his speech, which lasted just over an hour, with optimism and a warning to those who would bet against the U.S.

“And I can say with absolute confidence: I have never been more confident or more optimistic about America. We have stared into an abyss of insurrection and autocracy — of pandemic and pain — and ‘We the People’ did not flinch,” he said.

Throughout the speech, Biden called upon lawmakers to send to his desk a litany of legislation ranging from his big-ticket infrastructure plan to efforts to curb gun violence and expand protections for historically marginalized communities.

“It’s time we remembered that We the People are the government. You and I. Not some force in a distant capital. Not some powerful force we have no control over,” he said. “It’s us.”

 

Reference: CNBC

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