tv President Biden Delivers Remarks on the Economy CSPAN March 31, 2021 11:57pm-12:34am EDT
chauvin, charged in the death of george floyd. >> c-span is your unfiltered view of government, created by america's cable television companies in 1979. today we are brought to you by these television companies who provide c-span to viewers as a public service. ♪ >> president biden was in pittsburgh to deliver a speech on his infrastructure plan. this is 35 minutes. >> good afternoon and welcome to
pennsylvania, mr. president. i'm a senior line worker and a proud member of the international brotherhood of electrical workers local 29 in pittsburgh. since day one of the pandemic me and my coworkers have been on the front lines. it is my job. there is no working from home. we keep the lights on in the power running throughout western pennsylvania. every deal -- day i deal with the electrical grid and i know infrastructure is critical. i'm excited about the build back better plan. nearly everyone agrees we need to modernize our roads, bridges, power grid, airports and railroads. we need to invest in new energy technologies and american-made manufacturing. what president biden is proposing isn't just an investment in infrastructure, it is an investment in good union jobs, good schools, strong communities. it is an investment in the future. my brother teaches at a high
school just north of here. the same high school we both went to. the kind of investment joe biden is talking about would mean so much to his school and his students. both now and in the years to come. for example, president biden proposes a massive expansion of high-speed broadband and that is critical to the health of so myself, and i don't want to see them leave the area. the build back better plan is directed at community like mine. it is about opening up opportunities, revitalizing local businesses and creating jobs. for decades, pennsylvania was a global leader in manufacturing and good union jobs it could be that way again, as president biden has a solid plan to make that happen i also don't want my kids growing up in a world where the threat of climate change hangs over their head. . that means investing in charging infrastructure, and all forms of clean power technology, so we
can create tens of thousands of green energy jobs. union jobs. that is exactly what president biden is proposing. here is another reason i am so excited about this. i am 100% a union guy. the union changed my life, and gave me opportunities i never could have dreamed of. being a line worker isn't always easy. i enjoy a great paycheck, strong health and retirement benefits and a voice on the job. here is who else is a union guy. joe biden. ps said again and again, unions built the middle class. that's why his plan supports collective bargaining rights, a living wage. the men and women of the ibew are ready to get to work, rebuilding infrastructure, revitalizing our communities and the middle-class. we are ready to build america back better. it is my pleasure and it is my
a connection that knocked out everybody's electricity from the transformers. that is what made me nervous. i cannot do what you do. my, you are a union guy. i am a union guy. i support unions, unions built the middle-class. about time they started to get a piece of the action. the county executives and the mayor and everyone that is here, i want to say a key. thank you congressman for the passport in your district. and i appreciate being here. i am honored to be with you. two years ago, i begin my
campaign here in pittsburgh. i was running to rebuild the backbone of america. today, i return as your president. to lay out the vision of how i believe we do that, rebuilding the backbone of america. it is a vision not seen through the eyes of wall street and washington, but through the eyes of hard-working people. people i grew up with. union families, union workers. people like the folks i grew up with in spring and in delaware. people who get up every day, who work hard, raised their family, pay their taxes, serve their
country and volunteer for their communities. ordinary americans doing extraordinary things. people who break their next every day for their families. and the country they love. a country, that on the day i was elected, was in extreme distress. with the virus on a deadly rampage. it has now killed over, i carry it in my pocket every day, i have the list of exactly how many have died, 547,296 americans dead from the virus. more than all of the people killed in world war i, world war ii, the vietnam war, 9/11. 547,296 americans.
an economy that left millions out of work. and created so much anxiety. that is why i moved so quickly to pass the american rescue plan with the help of my friends here in the congress. i really mean that. it did not pass by a lot but the leadership -- you got it done. because it was an emergency. we need to act to save jobs. to save businesses. to save lives. and, that is what we did. we are beginning to see the results. we are on our way. to having given 200 million vaccination shots in the first 100 days. of my presidency. when i said i would get 100 million done, people thought it was a significant exaggeration.
we are going to get 200 million done. twice the original goal. because of all the help. winning economists are now predicting our economy will grow 6% this year. that is a rate we have not seen in years and years. we can cut child poverty and half this year. with the american rescue plan, it would mean an immediate emergency. now, time to rebuild. even before the crisis we are now facing, those at the top were doing very well. just fine. they were doing great. everyone else is falling behind. the pandemic only made the division so much worse and more obvious. millions of americans lost their job last year. while the wealthy 1% of americans saw their net worth increase by $4 trillion. it just goes to show you, how unfair our economy has become.
it wasn't always this way. it is time to change that. i know, parenthetically, i got criticized for giving tax breaks to middle class and poor folks this last time. did you hear that cry, doing the same thing when trump's tax bill passed, 83% of the money went to the top 1%. you know, this is not the target those of made it. not to seek retribution. this is about opening opportunities for everybody else. here is the truth -- we all will do better when we all do well. it is time to build our economy from the bottom up.
not the top down. the economy overall had not worked. because, wall street did not build this country, you, the great middle-class tilt this country. unions built the middle class. and it's time. [applause] this time, we will rebuild the middle class, we will bring everybody along. everybody gets to come along. today, i am proposing a plan for the nation that rewards work, not just rewards wealth. it gives everybody a chance to exceed. it will create the strongest, most resilient innovative economy in the world. it is not a plan that tinkers around the edges. it is a once in a generation investment in america. unlike anything we have seen or done, since we built the interstate highway system and the space race decades ago.
in fact, the largest american jobs investment since world war ii. we will create millions of jobs, good paying jobs. it will grow the economy. make us more competitive around the world, for both national security interests and putting us in position to win the global competition with china and the -- in the upcoming years. big, yes. bold, yes. and we can get done. it has two parts, the american jobs plan and the american families plan. both are essential to our economic future. in a few weeks, i will talk about the american family plan. but today, i want to talk about the american jobs plan. i will begin with a hard-earned
plan, it modernizes transportation infrastructure. our roads, bridges, airports, the director of the airport said we are about to renovate the airport. is that right mr. county executive? we will employ thousands of people. you looked at me and said i can't thank you enough. for this plan. it grows the economy and -- in key ways. puts people to work and repair and upgrade that we badly need. it makes it easier and more efficient to move goods, to get to work. to make us more competitive. around the world. some of your local officials, they come in the area, a company wants to invest. what to they asked? how can i get to the railroad? what access to interstate's do i have, what is the water like? tell me about -- it goes on and on. it is about infrastructure.
the american jobs modernizing highway roads and main streets that are in difficult shape right now. it will fix the nation's 10 most economically significant bridges in america that require replacement. remember that bridge that was down? we have 10. the most economically significant bridges that need to be replaced. we will also repair 10,000 bridges, desperately needed upgrades to unclog traffic. keep people safe, connect our cities. down across the country. the american jobs plan will build new transit lines, cutting pollution, slashing commute times. and open up investment and
communities that can be connected to the cities and send it to the outskirts where a lot of jobs are these days. to reduce the bottlenecks, our ports and our airports. the american jobs plan will lead to transformational progress. to tackle climate change with american jobs and ingenuity. to protect our community from millions of dollars of damage from historic superstorm's, floods, wildfires, droughts. year after year making our infrastructure more resilient. seeing incredible opportunities for american workers and farmers and a clean energy future. skilled workers, like one we just heard from. building a nationwide network of 500,000 charging stations. creating good paying jobs, leading the world in the manufacturing and export of clean, electric cars and trucks. we will provide tax incentives, rebates to help all american
families. the federal government owns and an enormous fleet of vehicles which will be transitioned to clean electric vehicles, right here in the united states of america. by american workers with american products. we make all of these investments, we will make sure that, as an executive order i signed early on, that we buy american. that means investing in american-based companies, and american workers. not a contract will go out that i control. i will not go to a company that is an american company with american products all the way down the line and american workers. and we will buy the goods we need from all of america. communities that have
historically been left out of these investments, native americans, small businesses, entrepreneurs across the country. look, today, up to 10 million homes in america and more than 400,000 schools and childcare centers have pipes that they get their water from, pipes that are lead based pipes. including pipes for drinking water. according to sciences, there is simply no safe exposure to lead. lead can slow development. and hearing problems. the american jobs plan will put plumbers and pipefitters to work, replacing 100% of the nation's lead pipes and service lines. so every american, every child, can turn on a faucet or a fountain and drink clean water.
each $5,000 investment replacing aligned can mean up to $22,000 in health care costs saved. a chance to protect our children, to help them learn and thrive. you can't delay. it is long past due. building in america where the early interest was in internet, this thing called the internet, we invested and we invented the early internet. it was invented here. millions of americans lack access to reliable, high-speed internet. including more than 35% of rural americans. it is a disparity even more pronounced during this pandemic. american jobs, we will make sure every single american has access to high-quality, affordable,
high-speed internet. for businesses, for schools. when i say affordable, i mean it. americans paid too much for internet service. we will drive down the price for families who have service now. we will make it easier for families who don't have affordable service to be able to get it now. as we saw in texas and elsewhere, our power grids are vulnerable to storms. with tragic results. my american jobs plan will put hundreds of thousands of people to work.
line workers, electricians, laborers. thousands of miles of transmission line, building a modern, resilient, fully clean grid. capping hundreds of thousands of -- literally, oil and gas wells. that need to be cleaned up because they are abandoned. paying the same rate that a union man or woman would get how you got that well in the first place. we will build, upgrade, and winterize affordable, energy-efficient housing and commercial building for millions of americans. even before the pandemic, working families faced an enormous financial and personal strain trying to raise their kids and parents at the same time. the so-called sandwich
generation. a child at home, that can't stay home from work to take care of that child, you would lose your job. or, you have an elderly parent you are taking care of. seniors with disabilities living independently, feel that strain as well. we know, they live longer. the american jobs plan will help in many ways. it will extend access to quality, affordable community-based care. think of expanded, vital services like programs for seniors. home care workers going into homes of seniors, and people with disabilities cooking meals. helping get around their homes. helping them be able to live more independently. for too long, caregivers, disproportionate of immigrants. this plan will honor the american families plan and change that with better wages. millions of people who are able to get to work in an economy that works for them. decades ago, the united states government used to spend 2% of its gdp on research and
development. today, we spend less than 1%, i think it is 7/10 of 1%. here is why that matters -- we are one of only a few major economies in the world with public investment in research development as a shared gdp. it declined of last 25 years. we have fallen back, the rest of the world is closing in and closing in fast. you cannot allow this to continue. american jobs plan, the biggest increase in research spending on record. it will boost americans innovative edge in markets, global leadership is up for grabs. markets like battery technology, biotechnology, computer chips. clean energy. a competition with china in particular. critics say we should not spend this money.
they ask what do we get out of it? well, they said the same thing we first went into space. they said the same thing. pushing the frontiers lead to big benefits back home. when nasa created apollo's digital flight system, unheard of at the time, and lead to technology that helps us today to drive our cars and fly airplanes. when nasa invented ways to keep food safer the after hours, and used for decades to keep food safe in supermarkets. at least 2000 products and services and development as a result of american exploration. gps, computer chips allowing us to see and talk to one another. to sing happy birthday and watch the steps the first steps of
their grandchild. think about what work means to loved ones. i had a long discussion with the leader of china, we spent two hours on the phone. he said, he was astonished by the security team and china experts were on the line. he said you have always said, mr. president, that you can define america in one word. possibilities. that is who we are. in america, anything is possible. like what we did with the vaccines a decade ago that laid the foundation for covid-19 vaccines that we have today. like we did with the interstate highway system, transforming the way we travel and developed. americans can visit relatives
anywhere in the country, with just a family station wagon. businesses here in pittsburgh can load up the truck to get the product of phoenix. to this day, about a quarter of all of the miles americans drive each year on one of those original highways. imagine what we can do, what is within our reach if we modernize our highways. you and your family could travel coast to coast without a single tank of gas onboard a high-speed train. we connect internet wherever you live. imagine knowing that you are handing your children and grandchildren a country that will lead the world and producing clean energy technology, and will address one of the biggest threats of our time. that is what we will do. altogether, along with the american rescue plan, the proposal i put forward will create millions of jobs, estimated by some as 18 million jobs, good paying jobs.
it also works to level the playing field, empower workers and ensure new jobs are good jobs, that you can raise a family on, and bargain collectively. that's why my plan asks congress to pass the protecting the right to organize act and send it to my desk. this plan is important, not only for what and how it builds, but also where we build. it includes everywhere, regardless of your race and zip code. too often economic growth and recovery is constipated on the -- concentrated on the coasts, too often investments have failed to meet the needs of marginalized communities left behind. there is talent, innovation everywhere. this plan connects that talent through cities, small towns, rural communities, through businesses and universities, through our entrepreneurs, union workers, all across america.
we have to move now. i am convinced that if we act now, in 50 years, people are going to look back and say, this was the movement that america won the future. what i am proposing is a one time capital investment of roughly $2 trillion in america's future, spent largely over eight years. it will generate historic job growth, help businesses to compete internationally, create more revenue as well. they are among the highest value investments we can make is investing in infrastructure. put another way failing to make , this investment adds to our debt, but our children at a disadvantage relative to our competitors, that is what crumbling infrastructure does. our infrastructure is crumbling. we are ranked 13th in the world.
once more, it heightens our vulnerability, it attracts our adversaries. our adversaries are worried about us building this critical infrastructure. these are investments we have to make. we can afford to make them, we can't afford not to. how do we pay for it? i spoke to the majority leader. he is no longer the majority leader, but he has been for a long time. i spoke to the republican leader about the plan. everyone is doing something about infrastructure. why haven't we done it? no one wants to pay for it. less than four years ago, the congress passed a tax cut of $2 trillion. it didn't meet virtually any of
the predictions in terms of growing the economy. overwhelmingly the benefits of that went to the wealthiest americans. it even included new investments by shifting profits and jobs overseas. it was bad for american competitiveness. deeply unfair to the middle-class families. wrong for our future. here's what i would do. i start with one rule. no one making under $400,000 will see their federal taxes go up, period. it's not about penalizing anyone. i have nothing against millionaires and billionaires. i believe in american capitalism. i want everyone to do well. but here is the deal, right now a middle-class couple with two kids making a combined salary of
$120,000 a year, pays $.22 for each additional dollar they earn in federal income tax. a multinational corporation that builds a factory abroad pay s nothing at all. we are going to raise the corporate tax. it was 35%, which is too high. we all agreed five years ago it should go down to 28%. but they reduced it to 21%. we are going to raise it back to 28%. no one should be able to complain about that. it is still lower than world war ii and 2017. just doing that one thing would generate $1 trillion in additional revenue over 15 years. in 2019, and independent analysis found there are 91
fortune 500 companies, the biggest companies in the world, including amazon, that use various loopholes where they paid not a single penny in federal income tax. i do not want to punish them, that is just wrong. that is just wrong. a farmer or teacher paying 22%, amazon ping zero in federal taxes? i'm going to put an end to that. here's how i will do it. we are establishing a global minimum tax of 21%, we're going to level the international playing field. that alone will raise $1 trillion over 15 years. we would also eliminate deductions for offshoreing jobs, and shipping assets overseas. you pay a penalty, you don't get a reward in my plan.
using the savings from that to give companies tax credits to locate manufacturing here in the united states. i will significantly ramp up the irs enforcement against corporations who have failed to report their incomes. that can raise hundreds of billions of dollars. all of this adds up to more than what i have proposed to spend in just 15 years. it's honest, it's fiscally responsible, and by the way, as the experts will tell you, it reduces the debt over the long haul. let me be clear. these are my ideas on how to pay for this plan. if others have additional ideas, let them come forward. i'm open to other ideas so long they do not impose any tax increases on people making less than $400,000. let me close with this. historically, infrastructure has
been a bipartisan undertaking. many times led by republicans, it was abraham lincoln who built the transcontinental railroad. dwight eisenhower, the interstate highway system. i do not think you will find a republican today, maybe i am wrong, who doesn't think we have to improve our infrastructure. they know china and other countries are eating our lunch. there is no reason why it can't be bipartisan again. the divisions of the movement should not stop us from doing the right thing for the future. i'm going to bring republicans into the oval office, listen to what they have to say and be open to their ideas. we will have a good-faith negotiation. if any republican wants to help get this done. but we have to get it done. i truly believe we are in a moment, history will look back on this time, as a fundamental choice having to be made between democracy and autocracy.
there are a lot of autocrats in the world who think the reason why they are going to win is democracies consensus any longer. autocracies do. that is what the competition between america and china and the rest of the world is all about. a basic question. can democracy still deliver for the people, can it get a majority? i believe we can. i believe we must. delivering for the american people is what the american rescue plan was all about. it's been overwhelmingly popular when i wrote it, everybody said it had no bipartisan support. there is overwhelming bipartisan support with republican voters. ask around. if you live in a town with a republican mayor, republican county executive, asked them,
how many would rather get rid of the plan? ask if it helped them at all. that is what the american jobs plan is about. the new one i am proposing. i hope republicans join. i hope and i believe a number of businesses will join this effort. and i hope and believe the american people will join this effort. democrats, republicans, independents. we can do this. we have to do this. we will do this. we just have to remember, this is the united states of america. i have said it a thousand times. there is nothing beyond our capacity if we act together. it's time to move together. thank you, and i hope i get to come back to see you folks after this plan is passed. and the question is, you have to attract even more apprentices, more people, because we are building so much. god bless you all, and may god
protect our troops. [applause] >> here is a look at our live coverage thursday, at 10:00 a.m. eastern, a discussion on the pandemic and the medical supply chain from the washington international trade association. that is followed by a house administration subcommittee at noon, on access to voting in u.s. elections. at 3:30 therapy and institute looks at how the pandemic affects immigrant emilys. ron klain speaks to politico about the biden administration agenda. that is live at 9:00 e.a. at --