tv Pres. Biden Delivers Remarks on the Economy in Maryland CSPAN February 16, 2023 1:08am-1:52am EST
university shares a book, which examines the racial violence experienced by blacks in the south in the jim crow era legal system that supported it. and thursday night at 7:00 eastern, i'm q&a. you can listen to this and all of our podcasts on our free c-span now app. >> c-span is your unfiltered view of government. we are funded by these television companies and more, including sparklight. >> the greatest town on earth is a place you call home. it is our home too. we are all facing our greatest challenge. that is why sparklight is working around-the-clock to keep you connected. we are doing our part so it is easier to do yours. sparklight supports c-span as a public service, along with these othetelevision providers. giving you a front row seat to democracy. >> >> then biden spoke about
he knows that infrastructure investment means opportunities for workers like me and my brothers and sisters in this room. thanks to him, america is investing in a resilient but reliable power grid that can transport high-voltage renewable electricity to massive data centers. just like the project in prince william county, which will put my brothers and sisters in local 26 to work for the next 10 years. [applause] you have got to believe, i know exactly who to thank for this. a once in a generation investment. my president, our president, brothers and sisters, here in my home local, it is a privilege to introduce the president of the united states. joe biden. [applause]
[cheers and applause] [applause] pres. biden: hello ibew! these sit down, have a seat. [laughter] thank you for the introduction. i want to thank kenny cooper, the president of ibew, who is doing a great job for this union and all american workers. he got a hell of a new governor. [cheers and applause] he is the real deal. he has got some guns on him. [laughter] [laughter]
with my great friends and one of the best senators i ever served with, ben. he was first elected to the maryland state house a couple years ago. an incredible u.s. senator and advocate for maryland. and congressman glenn iv. [cheers and applause] [cheers and applause] the thing is, he is married to a woman that has a tougher job than he does. she is a councilwoman. i should be on the county council. you know what? nobody knows the difference between a pothole in front of your house. it is everybody's problem, and guess who they go to, they go to the county. that is why i ran for the senate. [laughter]
look, i am already hard at work delivering for working families. look, last week, i reported on a state of the union. [applause] [applause] it is strong. no malarkey, the soul of this nation is strong. the backbone of this nation is strong. and the people of this nation are strong, like all of you here today. you never give up. you heard me say many times, wall street in build america. they didn't. unions built the middle class. [cheers and applause] one reason i am standing here as
your president is because of the ie bw, that is no malarkey, either. for the past two years, we have been carrying out my economic and growth economy from the bottom out. this trickle-down economy, i never watched much of that on my dad's kitchen table. because, the middle class does well, but the wealthy still does very, very well. my economic plan is what i call a blue-collar blueprint. that means all of you, for how we are going to go this country. you will have -- you all have significant skills. you get up every morning and do your jobs, and bust your next trying to make an honest living. my dad is to have an expression. he'd say joey, a job is about a lot more than a paycheck. it is about your dignity. it is about respect.
it is about being able to look your kid in the eye and say, it will be ok and mean it. and he meant it. because of you, our economy is working. a stark contrast to our republican friends who are doubling down on the same field all tics of the past. trickle-down economics is not trickling down. i am looking forward to this debate, because this debate, we will debate with the facts. the last two years, we have created 12 million new jobs. that is more jobs than any president has created in four years. [cheers and applause] 12 million new jobs. the unemployment rate is 3.4%. that is a 50 year low. my first two years in office, we created 800,000 new manufacturing jobs. 800,000. where is it written that says
america can't lead the world again in manufacturing? gas prices are down, they will come down further. inflation is coming down. take-home pay for workers has gone up over the past several months. we got more to do, but the biden economic plan is working because of y'all. [applause] [applause] the ibew workers here in maryland and across the country have seen this firsthand. i signed the infrastructure law. a once in a generation investment putting americans to work in rebuilding the infrastructure. there is no possibility of us being a leading country in the world with second-rate infrastructure. i am not joking. it is literally true. we have all refunded over 20,000 projects across the country. two weeks ago, i was in ballmer,
where the biden family hails. that is an investment of $4 billion to replace a 150-year-old tunnel. i am one of the few guys that walked through that tunnel. the reason i did, i have traveled over a million miles on amtrak every single day going through that tunnel. and man, it is in bad need of repair. it will lead to 20,000 good paying construction jobs. [applause] when that project is done, new trains are going, and we will rename it the frederick douglass tunnel. [applause] they will go through it at 110 miles per hour. we will continue to invest in rail to make it easier for people to use it, because that is the potential to take
thousands of vehicles off the highway and save millions of barrels of oil. i have been pushing this for now 25 years. if a person can get from point a to point b faster on rail than their car, they take rail. the blast that did we are also making high-speed internet available across the country. we are already providing affordable access, affordable high-speed internet. we have already made that available to 175,000 homes in maryland that didn't have it before, and we are just getting started. because of all of you, we will install 500,000 electric charging stations across america. [cheers and applause] you, the ibew. making a good decent wage. one thing i want to say, it is
really important, and i think my introducer made it clear. people think that you just show up and say i want to be ibew worker and go to work. you go to college, you got for years, four years or more of apprenticeships. and by the way, it is harder to become, get into the ibew here in this union right now than it is to go to harvard university. in terms of the number of people applying and accepted. one of the reasons why i have been so prounion, you are the best workers in the world. that is not a joke. [cheers and applause] at is a fact. that is a fact. i spoke at the business roundtable and the major companies in america and i said that is why i was so prounion. because they save you a lot of money.
seriously. you pay more to get the work done, but the work gets done right. it gets done by the best people in the country. i really mean that. [applause] with all due respect, i say that the leadership, we gotta talk more about that. every person out there doesn't realize how hard it is to get to it based where you become a full-blown union member. they don't understand, they think you show up and say i want a job, and all of a sudden you are there. this is going to have a major impact on the environment, specifically reducing carbon in the air as we begin to move these 500,000 charging stations around the country. it will take millions of barrels of oil off the road. you see these charging stations, it is like rebuilding a gas station. with food and services.
my grandfather, he went to work for a guy who is building gas stations for an american oil company back in the early 1900s. that is how we got to scranton. because people said, i am not sure we want to put those 1000 gallon drums under the ground here in my neighborhood. every gas station that got built, what happens? all of a sudden, you have a fast food store nearby, you have a bill in the community. what we are doing in these charging stations is the same thing. i am not joking. think about it. you are building little tiny communities. the fields the region, it takes care of things. this is incredible. like i said, any charging station in the united states of
america, guess what? it will have to be made in america. [applause] all these projects mean good paying jobs. these are good jobs that you can raise a family. and most don't need a wall -- college degree, but you have an equivalent. you don't have to leave home in search of an opportunity, you have earned it. you put in at least four years in your train apprenticeships, which is one of the reasons why the united date has the best trained workers in the world. as i said, this is a blue-collar blueprint to rebuild america. i want to be there. -- i want to be clear. for every project we have, every project we are installing, it
will by america. there was a law passed in 1933. most presidents didn't pay much attention. it said that if the president is spending the taxpayers dollars to hire somebody to do something, every federal project is supposed to be built by american workers. everyone, using american products, creating american jobs. all best what? i announced new standards to require all construction material used in federal infrastructure projects the material made in america. [cheers and applause] that includes the lumber, the glass, this deal, the drywall, the fiber-optic cable. roads and bridges and highways, made with american products. [applause] we passed the chips and signs
act to make sure america leads the world in innovation. it has attracted $300 billion in investments, igniting the manufacturing boom in semiconductors. these are the small computer chips, smaller than the tip of my finger, that power everything in our lives, cell phones, automobiles, refrigerators the list goes on. america invented these chips. we invented them. it was american innovation that made them smaller, faster, more powerful. almost 40 years ago, close to 40% of all the chips produced in the world were produced here in america. then something happen. american manufacturing is the backbone of our economy, it got hollowed out. companies decided that they would move their jobs overseas to get cheaper labor. that is exactly what happened. today, we are down to producing
only 10% of the worlds chips. 10%. it is about more than chips, it is about science as well. the united states use to invest 2% of all the money spent in america, 2% of the gdp in research and development. that got down to 0.7% we use to rank number one in the world in research and development in america. now we rank number nine. china use to rank number eight a decade ago, now they are number two. other countries are closing the gaps fast. the chips and science act moves us up again. for much too long, in order to get cheap labor costs, american corporations were moving overseas. that caused factories to shut down here in america. they traveled the country for decades. i come from the corporate
capital of the world, delaware. more corporations are incorporated there than any other state in the union combined. i have seen what happens as you go around the country and towns with factories employing 3000 workers shuts down. the very soul of the country, affect community, evaporates for too long, we have imported products and exported jobs. now, america is exporting project and creating jobs at home. [applause] the end result is, manufacturing is coming back to america. but something else is coming back. a sense of self-worth. communities are beginning to be proud again. we are building an economy that leaves nobody behind. we are investing in places and people that have been forgotten. they have been invisible. but we haven't forgotten.
the truth of the matter is, we made a lot of this progress with republican help. sometimes, we had to go it alone, but a lot of the progress we made so far is because we worked together. sadly, from what i am hearing of the new leader of the house of representatives, they are suggesting this cooperation has come to an end. that would be a big mistake for america. some of our republican friends in the house are taking about taking the economy hostage. they say unless i accept the economic plans, which is totally irresponsible, they will not pay the national debt which took 200 years to accumulate. we cut the debt by $1.7 billion in the last two years this is a 200 year obligation that has been accumulating. i made it clear in the state of the union, i will not negotiate whether or not we pay our debt
with the new speaker of the house about how we should proceed. he is a decent guy. here is what i suggested. a default would be a catastrophe. let's have a conversation about how to grow the economy, create jobs, lower cost, and reduce the debt ceiling. i suggested, let's each layout our proposals. on march 9, i will lay down my entire budget. how much you want to spend, how much the taxes will be cut and raised to programs cut in raise. republicans do the same thing. i want you to sit down and see where we agree, disagree, and negotiate. in my view, we need to finish the job we started. the inflation reduction act, a fancy sounding name, but i
signed into law. we are taking on powerful interests to bring health care costs down so you can sleep better at night. we pay more for prescription drugs than any nation on earth. we, the united states, pay more for prescription drugs. one example, one in 10 americans has diabetes. i bet everyone of you know someone. right now, every day, millions struggled to control their diabetes. insulin has been around for over 100 years. it costs the drug companies today less than $10 to make that insulin. the package is arguably another two dollars. they are charging people 3, 4, $500 for it. unfairly charging them. not anymore. we cap the cost of insulin to $35 per month!
[applause] when i initially introduced the bill, it was for everybody, 35 bucks a month. we couldn't get the votes to pass for everybody, only got it done for medicare rate we got to finish the job we need to make sure everybody needs insulin, limit the cost to $35. let's finish the job. lets cap the cost of insulin for every single american who needs it and pays more than -- no more than $35. a law that caps out-of-pocket drug costs for seniors on medicare at 200 -- $2000 per month. many of you like me know the expensive cost of cancer drugs. it can cost $14,000 per year. as of november 2025, as of next
year, that is capped at $3500. the following year is $2000. no one will ever have to pay more than $2000. [applause] and been and i have been fighting for years to allow medicare, the power to negotiate , how much they will pay for the drug when they apply for medicare. we have been working like hell. we finally beat pharma. [applause] here is the point. i don't understand why the republicans don't quite get this. bringing down the cost of prescription drugs isn't just fair, it saves seniors a lot of money. it will cut the federal deficit. saving taxpayers hundreds of billions of dollars over time. otherwise, they have to spend the money to pay the high
prices, pay $400 instead of $35. it is saving the taxpayer, not a joke. now our republican friends want to appeal the inflation reduction act, and get rid of the savings and prescription drugs that we buy like medicare -- through medicare. it would eliminate $159,000 in savings and lower drug costs. that just means your tax dollars are going to be saved 159 thousand dollars to do what we are doing right now. it doesn't cut medicare or medicaid or drug available. it cuts the cost. and by the way, on the topic of medicare, the distinguished senator -- senator rick scott from florida, who was responsible for getting republicans elected to the
senate, is a little bit in hot water right now. because his plan is to sunset medicare and social security. meaning if you don't reauthorize every five years, sunset. it will go away. as i said in the state of the union, if anyone tries to get rid of social security or medicare, i will veto it. [cheers and applause] that is the republican dream, i am their nightmare. look, folks. you saw i sent on the floor, i said no, no, liar, liar. i said, that means you are not going to cut medicare or social security?
it is all on film, let's see who votes to cut it. look. here is rick scott's response. he said that because i am cutting prescription drug costs, that means i'm cutting medicare. i think he is a little confused. we are saving medicare hundreds of billions of dollars over time. we are strengthening medicare because you should no longer have to pay exorbitant prices to big pharma. we are saving millions of dollars in out-of-pocket expenses for seniors. for drugs they need to stay healthy. senator scott's bottom line is, we are reducing the deficit at the same time that we are doing -- a fair price, someone that is costing the government. in addition, this inflation
reduction act cracks down on super wealthy tax breaks. my republican friends have spent years cutting the number of irs agent and people who audit the super wealthy. when you make $200 million, [laughter] you have got very expensive accountants and a lot of people doing a lot of things to make sure you pay a little. you make it impossible if you have more auditors. you make it impossible for the super wealthy tax chiefs and the tax shelters to succeed. that lets the super wealthy sit playing games. what has happened, i don't know how many years ago, but the last four or five years, they constantly cut the number of audit, the number of people working at the irs who do the auditing. so you are taking the cops out of the deal, a lot of people
going through red lights, but no cops and no cameras. well, look, we change the law. now we are making it possible to conduct audits. just last month, the very first bill that republicans passed in the house of representatives would rescind that effort, would cut all those folks out again. instead, they let checks -- tax chiefs get away with it. the nonpartisan congressional budget office has said it would add another $114 billion to the federal deficit. meaning they will collect $114 billion less in taxes. the inflation reduction act also includes a corporate minimum tax of 15%. here is why. you're probably tired of hearing me talk about the fortune 500
corporations who make $40 billion, but they paid zero in federal tax. zero in federal tax. i repeat, zero. and folks, it is simply not fair. i am a capitalist. if you can make 100 million bucks, go ahead. but pay your fair share. [applause] and by the way, ask anybody. whether they are wealthy or middle-class. do you think the present tax system is fair? just go ask and see what responses you get. because the law that i signed last august, billion dollar corporations not have to pay a minimum of 15% taxes. just 15%. less than a nurse, a firefighter, a police officer, a
union member. republican congress wanted to get rid of this 15% minimum. along with other reforms i have made to make corporations pay their fair share. like a 1% tax when corporations, the money they make, they buy back their own stock so ceos get paid more. that is not right. pay tax on it, it is income. 1%. well, guess what? instead of investing that 1% in building more facilities or doing what your spouse to do, the republicans -- if republicans have their way, that will add another $296 billion to the deficit. not a joke, these are facts. here is a big one. republicans in congress have pledged that they will extend trump's tax cuts from the previous four years. that was supposed to go away.
for the wealthy and big corporations. when they passed it, the lion share was supposed to be out of existence by 2025. but these tax cuts have already added $2 trillion to the federal deficit. that is fact. no one denies that. 2 trillion. now republicans want to extend them without paying for it. a nonpartisan congressional budget office said that would add 2.7 trillion dollars again to the deficit. and we get people who make $4 million per year in additional tax break of $175,000 per year. thus twice what the average american family makes in a year. it would leave the american taxpayer holding the bag. let's be crystal clear. if you add up the proposals that
my republican friends have offered, so far, it would add more than $3 trillion to the debt over 10 years. $3 trillion. when i introduce my budget a few weeks ago, you will see that i made a commitment and i will keep it. no one making less than $400,000 per year and i don't know a lot of people, will not see a penny increase in their taxes. not a penny. [applause] we will see that my budget will invest in america, lower costs, protect social security and medicare, and cut the deficit by $2 trillion in 10 years. i want to reward work, not just wealth. let's make sure working parents can afford to raise their family, so they have sick days, paid family medical leave. affordable childcare.
that millions of people can go to work. let's also restore the childcare tax credit which gave tens of millions of parents some breathing room and cut child poverty and half. the lowest level in american history. and by the way, when we do these things, guess what happens? we increase productivity in america. we generate economic growth. the economy gets better, not worse. i have also called on congress to pass my proposal for a billionaire minimum tax. when we started this administration, about 720 billionaires. now we have about 1000. the average tax they pay is on 3%. no billionaire should pay a lower tax than a schoolteacher or firefighter. [applause] and i said people making less than $400,000 per year, won't
see their taxes raised. i will put on my plan, republicans in congress should do the same. right now, we all know. to say you want to reduce the deficit, but the plans will increase the deficit by $3 trillion based on what they introduced so far. so where will they cut? they will cut medicaid, the affordable care act, social security or medicare? aid to farmers? at the state of the union they seem to say they won't cut that. ok, great. hope that is true. but how will they make these numbers add up? if republicans try to take away people's health care, increase costs for middle-class families, i will stop them. [applause] [applause] let's remember, the previous administration, america's deficit went up every year four years in a row.
because of those record deficits, no president added more to the national debt, then my predecessor. nearly 25% of the entire national debt accumulated over 200 years was accumulated as a consequence of the tax cut in this last administration. how did congress respond? they pass the debt ceiling three times without preconditions or crisis. if we paid the bills then, why not pay them now? let's pay the debt. if you couldn't throw the country into a crisis then, why would you want to throw it in now? why would they do it now? it is just politics. they have got no business playing politics in people's lives. look, folks. [applause] i am sorry to give you so much
detail, but i think it is important that we get the facts on the table. here's the bottom line. i plan is working. it has reduce the deficit. it is fiscally responsible. we got more work to do, but we are making a lot of progress. families across the country are starting to breathe again. we just got to keep it going. it has never been a good bet to bet against america. i can honestly say, i have never been more optimistic about america's future than i am in this moment. i really mean that. [applause] [applause] we just have to remember who we are. we are the united states of america. there is nothing, nothing, nothing beyond our capacity if we work together! may god bless you all, and may god protect our troops, let's get this done. thank you! [cheers and applause] [cheers and applause] ♪
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