Today, the White House is releasing the President’s Economic Blueprint, explaining how his historic legislative successes, and executive actions the Administration has taken, are rebuilding the economy from the bottom up and middle out now and for years ahead.
The President’s first two years in office have been two of the most productive in American history, and as the Blueprint explains, these accomplishments are all part of one economic vision. This Congressional session, the President and Congressional Democrats passed the most aggressive economic recovery package since FDR, the most substantial infrastructure investment since Eisenhower, the most significant investment in manufacturing and research and development in history, and a historic law to lower costs for families and accelerate clean energy manufacturing.
The Blueprint is being released as the President travels to Ohio for the groundbreaking of Intel’s new manufacturing facility – the result of the President’s CHIPS and Science Act – and ahead of next week when he will sign the Inflation Reduction Act into law.
President Biden, Vice President Harris, and Congressional Democrats quickly spurred the strongest and most equitable economic and labor market recovery in modern history, after inheriting a pandemic economic crisis. While it will take time and there is more work to do, including immediate work to support the U.S. economy’s transition from historic recovery to stable, steady, growth with lower inflation, the Biden-Harris Administration has laid the foundation to begin tackling decades-long economic challenges and finally deliver an economy that works for working families.
Read the Blueprint here.
President Biden’s economic blueprint has five pillars:
- Empowering Workers, with more, good-paying jobs and greater worker power to unionize and have dignity at work.
- Making and Building it in America, by investing in infrastructure, making America the world’s leader in clean energy jobs and innovation, bolstering our manufacturing base, and buying American.
- Giving Families Breathing Room, by lowering costs and expanding access to prescription drugs and high-quality health care, high-speed internet, education, child care and long-term care, housing, and other essential needs.
- Making American Industry More Competitive, Less Concentrated, and More Resilient, by taking on corporate concentration, promoting small businesses and entrepreneurs including minority and women owned businesses, and supporting resilient supply chains.
- Rewarding Work, Not Wealth, with worker-centric tax reform that ensures the wealthy and large corporations pay their fair share, while never raising taxes on households with incomes below $400,000, as was done in the Inflation Reduction Act.