tv Pres. Biden Delivers Remarks CSPAN October 28, 2021 2:33pm-2:58pm EDT
white wealth. >> howard husock, author of "the poor side of town" on "q and a." listen to "q and a" and all our podcasts on the new c-span app. >> president biden today announced a $1.75 trillion budget framework scaled back from the original plan. the president made the announcement this morning in the east room of the white house.
pres. biden: good morning. today i'm pleased to announce that after months of negotiations we have an infrastructure bill that will put us on the path to not only compete but win the competition for the 21st century against china and every other major country in the world. it's fiscally responsible. it's fully paid for. 17 nobel prize wins for the economics have said it will lower the inflationary pressures on the economy. over the next 10 years, it will not add to the deficit at all. it will actually reduce the deficit, according the economists. i want to thank my colleagues in the congress for their leadership. we spent hours an hours an hours
over months and months working on this. no one got everything they wanted including me. but that's what compromise is. that's consensus. that's what i ran on. i've long said compromise is the only way to get things done for democracy. i know it's hard. i know how people people about things they fight for. but this includes historic investments in our people. any single el thovment framework would be viewed as a fundamental change in america. taken together they're truly consequential. i'll have more to say after i return from critical meetings in yeump this week -- critical meetings in europe this week but for now let me lay out a few points. first, we face -- i apologize for saying this again.
we face an inflection point as a nation. for most of the 20th century we led the world by a significant margin because we invested in our people, not only our roads and highways and bridges but in our people. in our families. we didn't just build and interstate highway system. we built a highway to the sky we invested to win the space race and we won. we were the first to provide access to free education for all meshes beginning back in the late 1800's. that decision alone to invest in children and families was a major part of why we were able to lead the world for much of the 20th century. but somewhere along the way we stopped investing in ourselves, investing in our people. america is still the largest economy in the world. we still have the most productive workers and most innovative minds in the world. but we risk losing our edge as a nation. our infrastructure used to be rated the best in the world.
today, according to the world economic forum, we rank 13th. in the world. we used to lead the world in educational achievement. now the organization for economic cooperation and development ranks america 35th out of the 37 major countries when it comes to investing in early childhood education and care. we know how our children start impacts significantly on how they'll finish. we can't be competitive in the 21st century global economy if we continue to slide. that's why i've said all along we need to build america if the bottom up and the middle out. not from the top down. trickle down economics that's always failed us. i can't think of a single time when the middle class has done well that the wealthy haven't done very well. many time, including now, when the wealthy and super wealthy do very well and the middle class don't do well. that's why i propose the
investments congress is now considering in two critical pieces of legislation. positions i ran on as president, positions i announced when i laid out in a joint session of congress what my economic ageneral da was. these are not about left versus right. or moderate versus progressive. or anything else that pits americans against one another. this is about competitiveness versus complacency. competitiveness versus complacency. it's about expanding opportunity, not opportunity denied. it's about leading the world or letting the world pass us by. today, with my democratic colleagues, we have a framework for my build back better initiative. and here's how it will fundamentally change the lives of millions of people for the better. millions of you are in the so-called sandwich generation. who feel financially squeezed by raising a child and caring for
an aging parent. about 820,000 seniors in america and people with disabilities have applied for medicaid and they're on a waiting list right now to get home care. they need some help, they don't have to be kicked ott of their home. but they need a little help getting around. having their meals made occasionally for the. they don't want to put them in nursing homes not because of the cost but because it's a matter of dignity. they want to stay in their homes. but it's hard. you're just looking for an answer. so your parents can keep living independently with dignity. for millions of families in america, this, this issue, is the most important issue they're facing. it's personal. so here's what we're going to do. we're going to expand services for seniors. so families can get help from well-trained, well-paid professionals. help them take care of their
parents at home. to cook meals for them. to get their groceries for them. help them get around. help them this live in their own home. with the dignity they deserve be afforded. quite frankly, what we found is that this is more popular or as popular as anything else we're proposing because the american people understand the need. it's a matter of dignity and pride for our parents. 30 years ago, we ranked number 7 among the advanced economies in the world as a share of women working. know where we are today? we ranked 23rd. 23rd. seven to 23. once again our competitors are investing and we're standing still. today there are nearly two million women in america, not working today simply because they can't afford child care. typical family spends about
$11,000 a year on child care. some states it's $14,500 per child. we're going to make sure nearly all families earning less than $300,000 will pay no more than 7% of their income for child care. for a family making $100,000 a year, that will save them more than $5,000 on child care. this is a fundamental game changer for families and for our economy. as more poishts, especially women, can get back to work and work in the work force. i'm looking at a lot of significant press people in front of me. a lot of them are work, working mothers. they know what it costs. i remember when i got to the senate, i lost my wife and daughter in an accident. my two boys. i started commuting 1,500 miles a day, because i had my mom, my dad, my brother, my sister help
me take care of my kids because i couldn't afford child care and i was getting a serious salary, $42,000 a year. we also extended the middle class tax cut for parents. that is the expanded child tax credit we passed for the american rescue plan. what that means is, for folks at home, they're getting $300 a month for every child under the age of 6. $250 for every child under the age of 18. we're extending that. the money is already a life-changer for so many working families. this will help cut child poverty in half this year according to experts. that's not all it does. it changes the whole dynamic for working parents. in the past, if you paid taxes and had a good income you could deduct under the tax code $2,000 per child. from the taxes you owed. but how many families do you know, a cashier, waiter, health
care workers who never got the benefit of the full tax credit because they didn't have that much to deduct? and it wasn't refundable. so it either came off your tax bill or you didn't get full credit. why should somebody making $500,000 a year or $150,000 or $200,000 a year get to write it off their taxes and the people who need themen even more, they don't have that much tax to pay, they don't get the benefit and they have the same cost of raising their children. # 0% of those left out were working parents who just can't make enough money. that's why the american rescue plan we didn't just expand the amount of the middle class tax cut. we also made it refundable. this framework will make it permanently refundable. making sure the families who need it get full credit for it in addition to those who are
already getting full credit. we're going to make sure that every three and 4-year-old child in america will go to high quality preschool. that's part of the legislation i just brought up to the congress. studies show that when we put 3 and 4-year-olds in school, school, not day care, school, we increase by up to 47% the chance that they child -- that that child no matter what their background will be able to earn a college degree. as my wife jill was in the back always says, any country that out-educates us is going to out-compete us. we can finally take us from 12 years to 14 years of universal education in america. we also make investments in higher education. by increasing pell grants to help students from lower income families attend community colleges and four-year schools. and we invest in historically black universities, colleges and universities, hbcu's, minority-serving institutions
and tribal college, make sure every young student has a shot at a good-paying job in the future. this framework extends tax krets to lower premiums for folks on -- who are in the affordable care act for another three years. for four million -- from four million folks in the 12 states thathaven't expanded medicaid, all the rest have, this framework will enable you to get affordable coverage and medicare will now cover the cost of hearing aids and hearing checkups. this framework also makes the most significant investment to deal with the climate crisis ever, ever happen, beyond any other advanced nation in the world. over $1 billion -- over one billion metric tons of emissions reducks, at least 10 times bigger on climate than any bill ever passed before and enough to position us for a 50% to 52%
emission reduction by the year 2030. we'll do it in ways that grow the domestic industry, create good-paying union job, address long-standing environmental injustices as well. tax credits to help people do things like weatherize their homes. so they use less energy. install solar panels and develop clean energy products. help businesses produce more clean energy. and when paired with the bipartisan infrastructure bill, will truly transform this nation. historic investments in passenger rail. everybody says bide season a rail guy. that's true. but passenger rail and freight rail and public transit is going to make hundreds of thousands of, take hundreds of thousands of vehicles off the road. saving millions of barrels of oil. everybody knows, all the studies show if you can get from point a to point b on electric rail, you won't drive your car. you'll take the rail service. we also learned that in most major cities in america,
minority populations, the jobs they used to have in town, are now out of town. roughly 60% of the folks they don't have vehicles so they need to have a means to get out of town to their jobs. to be on time. that's -- this will do that like it did for detroit. 95% of the 840,000 schools buts in america run on diesel. every day more than 25 million children and thousands of bus drivers breathe polluted air on the way to and from school from diesel exhaust. we'll replace thousands of these with electric school buses that have big batteries underneath and are good for the climate. i went down to one of the manufacturing facility, saw one, got in one, drive one, they do not expend any -- they don't expend any pollution into the air. we'll build out the first ever
national network of 500,000 electric vehicle charging stations. all across the country. so when you buy an electric vehicle, you get credit for buying it, you buy an electric vehicle you can go all the way across america on a single tank of gas, figuratively speak, it's not gas. you plug it in 500,000 of them. these stations along the way. we're going to get off the sidelines on manufacturing solar panels and wind farrms, electric vehicles with targeted manufacturing credits you manufacture, get a credit for doing it. these will help grow the supply chains in communities too often left behind. and we're going toe ward countries for paying good wages for -- companies i should say, for good wages and for sourcing their materials from here in the united states. that means tens of millions of panels and turbines doubling the number of electric vehicles we
have on the road within three years. we'll be able to sell and export these products and technologies to the rest of the world, creating thousands more jobs because we are once again going to be the innovators. we'll also make historic investments in vierltal cleanup and remediation. that means putting people to work in good-paying job, at prevailing wage. capping hundreds of thousands of abandoned wells and gas wells. oil and gas wells that need to be capped because they are leaking things that hurt the air. putting a stop to the methane leaks. and the pooplines. protecting the health of our communities. it's a big deal. and we'll build up our resilience for the next superstorm, drought, wildfires and hurricanes that represent a blinking code red for america and the world. last year alone, these types of extreme weather events you've
all been cover, you've all witnessed, some of you have been caught in the middle of, have caused $99 billion in damage to the united states twheb last year. $99 billion. we're not spending any money to deal with this? it's costing us significantly. i met -- in pittsburgh i met an i.b.w. electrical worker who climbs up on power lines in the middle of the storm and tries to put transformers in to keep lights on when the storms hit. he calls himself 100% union guy. his job is dangerous. he said, i quote, i don't want my kids growing up in a world where the threat of climate change imagines over their heads, end of quote. folks, we all have that obligation. that obligation to our children and grandchildren. bipartisan infrastructure bill is also the most significant investment since we built they
have inter-- built the interstate highway system and won the space race decades ago. this is about rebuilding the arteries of our economy. across the country now, there are 45,000 bridges and 173 miles of -- 173,000 miles of roads that are in poor condition. some of the bridgeus don't even take a chance of going across. they've shut down. you can't be -- they can't be built back to the same standards. the welcome is not going to get a lot better. we have to keep it from getting a lot worse. we have to build back better and stronger. no one should have to hold their breath as they cross a run down bridge or dangerous intersectionnary hometown. we're going to put hardworking americans on the job to bring our infrastructure up to speed. goodjob prerks vailing wage. jobs you can raise a family on. my dad would say, you have a little breathing room. jobs that can't be outsourced.
jobs replacing lead water pipes. so families can drink clean water. improving the health of our children and putting plumbers and pipe fitters to work. jobs laying thousands of miles of transmission lines to build a modern energy grid. jobs making high speed internet affordable and available everywhere in rural and urban america. particularly include egg the 35% of rural america that goes without it right now. this pandemic has made clear the need for affordable and available high speed internet. the idea of a parent having to put their kids in the car for virtual learning, drive and sit in a mcdonald's parking lot so the child can access the internet when school is taught virltulely -- virtually is not only unnecessary, it's wrong. it's wrong. as i said before these plans are fiscally responsible. they are fully paid for. they don't add a single penny to the deficit.
they don't raise taxes on anyone making less than $400,000 a year. in fact, they reduce the deficit. here's how. ypt to pun -- i don't want to punish anyone's success, i'm a capitalist. i want everyone to be able to, if they want to be a millionaire or billionaire to seek their goal. awe all i'm asking is, pay your fair share. pay your fair share. pay your fair share. right now, many of them are paying virtually nothing. last year, the 55 most profitable corporations in america, 55 of them, paid zero, zero in federal income tax. on about $40 billion in profit. if they report big profits to shareholders, they should be paying taxes. it's that simple. that's why the build back better framework will have a 15%
minimum on the largest corporations. a minimum tax of 15%. the top 1% of the wealthiest americans evade, it's estimated by experts, $160 billion a year in federal taxes. that's wrong. we're going to change that. i want to emphasize that i said from the beginning, under my plan, in you -- if you earn less than $400,000 you won't pay a single penny more in federal taxes period. these bills continue cutting taxes for middle class, child care and much more. let me close with this. for much too long, working people of this nation in the middle class of this country have been dealt out of the american deal. it's time to deal them back in. i ran for president saying it was time to reduce the burden on the middle class. to rebuild the backbone of this
nation. working people and the middle class. couldn't have been any clearer. from the very moment i announced my candidacy. that's why i wrote these bills in the first place and took them to the people. i campaigned on them. the american people spoke. this agenda, the agenda in these bills is what 81 million americans voted for. more people voted than any time in american history. that's what they voted for. their voices deserve to be heard. not denied. or worse, ignored. because here's what i know. we make these investments, there will be no stopping the american people or america. we will own the future. i've long said it's never been a good bet to bet against the american people. i've said that to foreign leaders as well as everyone here in this unt kri. which means it's always a good bet to bet on the american people. just give them half a chance.
that's what we're doing. that's what these plans do. they're about betting on america. about believing in america. about believing in the capacity of the american people. if you look at the history of the journey of this nation, what becomes crystal clear is this. say it again. given half a chance the american people have never, ever, ever let the country down. so let's get this done. god bless you all, may god protect you troop, i'll see you in italy and in scotland. thank you. >> mr. president, mr. president -- [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]
>> today we're expecting the house to take up legislation on workplace discrimination against older americans. off the floor, negotiations continue on the $1.2 trillion infrastructure bill passed by the senate in office and the $1.75 trillion budget framework president biden announced just a couple of moments ago. when the house comes into session we'll have live coverage here on c-span. and in just a few minutes, at 3:00 p.m. eastern, the house rules committee will meet to take up the debate rules for the democratic budget reconciliation bill. we'll have that live here on c-span when it starts. >> get c-span on the go. watch the day's biggest political events live or on demand any time. anywhere. on our new mobile video app. c-span now. access top highlights. listen to c-span radio. discover new podcasts. all for free.