This archive report was first published on 9 July 2020.
On July 9, 2020, Joe Biden delivered a major speech in Pennsylvania, outlining his expanded economic agenda. The speech marked the first of several steps the former vice president would take in the coming weeks to detail his plans.
At the heart of Biden's proposal is a $300 billion increase in government spending on research and development of technologies like electric vehicles and 5G cellular networks. He also proposed an additional $400 billion in federal procurement spending on products manufactured in the United States.
As part of his economic message, Biden's campaign is rallying top surrogates in key battleground states to amplify and showcase his plans. On Friday, Senator Amy Klobuchar of Minnesota will hold a roundtable discussion aimed at Arizona voters, while Senators Tammy Duckworth and Tammy Baldwin will do one for Wisconsin, Gov. Gretchen Whitmer of Michigan will headline one for her state, and Senator Sherrod Brown of Ohio will hold one for his state.
Unlike President Trump, who has focused on stoking white resentment and fears, Biden and his campaign are emphasizing their efforts to increase opportunities for Black, Latino, Asian-American, and other workers in cities, suburbs, and rural areas. 'An economy for every American,' Biden said on Thursday.
He also criticized Trump's approach, saying, 'Donald Trump may believe that pitting Americans against Americans may benefit him. I don't.'
Biden's plan includes additional deficit spending next year to help the economy recover from the recession caused by the pandemic. He has proposed to offset the entirety of his spending plans with nearly $4 trillion in tax increases, largely by reversing some of Trump's signature tax cuts for high earners and otherwise raising taxes on the wealthy and corporations.
