tv President Biden Delivers Remarks on Infrastructure Proposals CSPAN August 11, 2021 1:43pm-2:01pm EDT
l.a. county has 10 million people in one county. there are people there that might want the vaccine and can't get it, and these people in missouri and arkansas have the opportunity to get it and they don't want it. they are just going to go to new york and get on a tour bus and spread through new york. -- spread it through new york. host: that is scott in south carolina. guest: i fear the frustration between >> c-span is live at the white house, where president biden is getting ready to talk about his build back that her agenda. the event is expected to get underway shortly. you are watching live coverage here on c-span. pres. biden: -- making the administration the first ever to add 4 million jobs in the first six months in office.
and then in the past 24 hours, the senate has advanced two key pieces of my economic agenda, the bipartisan infrastructure bill and the budget resolution that is the framework for my build back better plan. today, i am pleased to share more good news with the american people. the latest report on consumer price shows -- prices show that we have expanded -- what we thought was going to come has increased, that we have seen a good monthly report. monthly core consumer price index is down by nearly two-thirds from its pace over the past three months. when you take out the goods directly impacted by the pandemic, like cars and airplane tickets, the monthly core consumer price index is less than .2%. so here is where we stand. jobs are up.
monthly price increases have come down. economic growth is up the fastest in 40 years. i would argue our biden economic plan is working. historic investments on the way, as well. this is not accidental. it is a result of our strategy to get shots in arms, grow the economy from the bottom-up and the middle-out, and it is the result of the american rescue plan and everything else we have done. and it is the result of the great determination and really hard work of the american people. even with all this progress, a lot of families are still feeling the pinch. budgets remain tight, and paychex do not go as far as they need to. that has been the reality in the millions of households across america for too long. that is why i want to talk today about what we're going to do to
try to ease the burden on families right now and what we need to do to help them succeed over the longer-term. first, for millions of families, help is on the way right now thanks to the american rescue plan. on friday, about 40 million families will receive their second monthly payment as rt of our tax cut for families with children. $300 for each child under the age of six, and $250 for every child six through the age of 17. money for food, rent, school supplies, fees, and equipment for the child to joint sports teams and dance class. most of all, like my dad used to say, it just gives a parent a little bit of breathing room. i would argue for some, it is a lifesaver. economists also tell us that those kinds of tasks -- tax cuts boost test scores, college
attendance, and lifetime earnings for children, a win-win. that is why i am glad that, early this morning, congress took an important step to make sure that this tax cut for families with children does not expire next year. so let's keep this tax cut going and not raise taxes on middle-class families. the second point i would like to make is we are talking about taking action, and that alleviates global supply chain challenges that keep pces higher than they should be. for example, we are tracking congestion at the ports of los angeles and long beach, the largest ports in the united states where increased shipping traffic and the challenges of operating safely in a pandemic are creating disruptions. those disruptions are packed everything, from how much our food costs to when deliveries arrive. so my administration is bringing together port operators,
shipping lines, andshipping linr unions, trucking companies, railroads, and others. right now, our experts believe, and forecasters agree, that these bottlenecks and price spikes will reduce as our economy continues to heal. today's consumer price report points in that direction, but we will keep a careful eye on inflation and trust the fed to take appropriate action if and when it is needed. third, i have directed my administration to crack down on what some major players are doing in the economy that are keeping prices higher than they need be. take your grocery bill. when big ad and cultural operations consolidate, but -- they put a squeeze on small and family farms, making them pay more for seed and raising prices on what your -- what you pay for your groceries at the grocery
store. my executive order opens up competition in the agricultural business. if more farmers the chance to compete, which will give americans more food choices at lower costs. fourthly, we are taking action to address gas prices, as well. today, gas prices are lower than they were early in this decade, but they are still high enough to create a pendulum working families. -- to create a pinch on working families. one key thing in the infrastructure bill that just passed is there are no gas tax increases. no gas tax increases. i made that absolutely clear, that i would not raise gas taxes, and i am glad everyone in the senate seemed to agree with that. but that is not enough. recently, we have seen the price that oil companies pay for a barrel of oil begin to fall. because the gasoline at the pump for the american people has not fallen.
that is not what you would expect in a competitive market. i want to make sure that nothing stands in the way of oil price declines leading to lower prices for consumers. so today, my director of the national economic council has asked the chair of the federal trade commission to use every available tool to monitor the u.s. gasoline market and address any illegal conduct that might be contributing to price increases at the pump while the cost of a barrel of oil is going down. we also made clear to opec, major oil exporting nations of the world, that the production cuts made during the pandemic should be reversed as the global economy recovers, in order to lower prices for consumers. the child tax credit stepping in to address the supply chain challenges, my competition orders, the ftc investigation on price gouging, these are some of
the immediate steps we are taking to put more money into the pockets and make that money go further. we also need to do more, bring down the costs squeezing families month after month and year after year. we need to make this economy work better for working families in the long run. these challenges were with us long before the pandemic and before i took office. as we recover from this crisis, now is the moment to put in place a long-term plan to build back america better, a plan that will increase opportunities with better jobs and higher wages, a plan that will lower the everyday costs that strain our budgets in our nation's families today and long into the future. it starts with making investments we know will make the economy more productive and lead to more growth over the long-run. bringing down the cost, everyday
costs, that have been taking a bigger and bigger right out of middle-class families' income, the expenses that keep parents up at night and rob seniors of their dignity, health care, prescription drug cost, childcare, education, housing, or caring for an elderly relative or loved one. for those who get their health insurance through the affordable care act, the american rescue plan allows to cover more people at lower premiums, and lower premiums by an average of 40%. in my build back better plan, we want to build on that progress. prescription drugs, right now we pay the highest prescription drug cost prices of any developed nation in the world, the highest. my build back better plan is going to lower prescription drug costs by finally giving medicare the power to negotiate the
prices of the drugs they purchase for the american people, saving americans hundreds of billions of dollars. , my plan would add hearing, dental, and vision benefits to medicare. right now, there are hundreds of thousands of americans who need home and community-based care services, and my plan expensed home care -- expands home care for older american and people with disabilities, while improving jobs in the pay for the workers that care for them. my plan will also provide access to quality affordable childcare. upgraded childcare facilities across the country, middle-class families will pay no more than 7% of their income for highly qualified care for children up to the age of five. the most hard-pressed working family will not pay a dime. today, my council of economic
advisers in the office of management and budget released a report showing clearly how my build back better plan will lower out-of-pocket expenses for families. for example, a family with two parents who together earn $85,000 a year, they have an adult daughter who lives with them and attends a community college, they care for an elderly parent with needs that cost $5,500 out-of-pocket each year. and eye -- an eye exam, his. under the build back better plan, the daughter would be eligible for two years of community college free, saving them $2400 a year. that is like a $2400 tax credit. in addition -- i should say tax cut, not just credit. in addition, my plan would cap out-of-pocket expenses and costs for the moms and dads prescription drugs, saving that family another $2400 a year.
in the new vision benefit under medicare, it would pay for that eye exam and new glasses and lenses, saving $450 a year. all told, my plan would save that family making $85,000 a year $5,250. the build back better plan is going to save your family a lot, as well. now there has been a lot of misleading talk, which is no surprise, i guess, but what i am reposing in my build back better agenda. it is not a short-term stimulus, it is a long-term investment in american families. my republican colleagues have argued that long-term investments in physical infrastructure will grow the economy and reduce inflationary pressures. i thank them for that, they are
exactly right and we agreed on that. at the same time, it is true that long-term investments that bring down the biggest costs that families face, housing, childcare, education, and health care, these investments will lower out-of-pocket expenses, not raise them. they will spur more people to work by helping ease the burdens of childcare and senior care for parents and mothers, care keeping them out of the job market. it will spread out for decades and make a huge difference for families. but they will only make up around 1% of our economy each year over the next decade. and they
are going to be fully paid for. this is not going to be anything like my predecessor, whose unpaid tax cuts and other spending added nearly a $20 over four years to the national debt -- nearly $8 trillion over four
years to the national debt. they did not try to
pay for the text because it went straight to the largest corporations and wealthiest americans -- americans. these investments i am proposing would be paid for by having the largest corporations, including 55 corporations that paid zero federal tax last year in the super wealthy begin to pay their fair share. they will still make a lot of money, but pay their fair share. that means actually reduce the national debt, improve our fiscal position over the long run. my build back better agenda is fiscally responsible, a fiscally responsible way to reduce the costs for families. in fact, we are hearing economists across the board confirm this. reuters has said that worry the plan will ignite -- this is me now, ignite undesirably high
inflation, and overheating economy, is overdone. joseph stiglitz said my plan, "there is no conceivable way it will have any significant effect on inflation." and member of harvard university has said, "i do not think infrastructure bill or the reconciliation plan would materially impact inflation over the next decade." so if your primary concern right now is the cost of living, you should support this plan, not oppose it. because a vote against this plan is a vote against lowering the cost of health care, housing, childcare, eldercare, and prescription drugs for american families.so let me close with this, we brought this economy back from a cold start. and there is going to be -- there are going to be some ups and downs, but i am committed to making sure that our historic economic recovery reaches
everyone, this time reaches everyone. eases the burden of working families not just this year but for the years to come. thank you. god bless you, and may god protect our troops. [captions copyright national cable satellite corp. 2021] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] >> c-span is your unfiltered view of government, provided by these television companies and more, including charter communications. >> broadband is a force for empowerment. that is why charter invested billions, building infrastructure, upgrading technology, empowering opportunity >> turner communications supports c-span as a public service along with these other television providers. giving a front proceed to democracy.
-- giving you a front row seat to democracy. on c-span, we are featuring cabinet secretary's testimonies. >> we will hear from janet yellen. here on c-span. >> lawmakers examine the potential degree of a digital currency. they debate the pros and cons of such a move. they also talk about china's digital currency and global economic applications. the hearing is about two hours.