The White House released this fact sheet about how the Biden Administration is bringing semiconductor manufacturing back to the United States:
Semiconductors are an essential building block in the goods and products that Americans use every day. These computer chips are critical to a range of sectors and products from cars to smartphones to medical equipment and even vacuum cleaners. They help power our infrastructure from our grid to our broadband. The United States used to lead the world in global semiconductor manufacturing. But in recent decades, the U.S. lost its edge—our share of global semiconductor production has fallen from 37 percent to just 12 percent over the last 30 years.
The COVID-19 pandemic shined a spotlight on the fragility in the global semiconductor supply chain. Experts estimate that the global chip shortage knocked off a full percentage point from U.S. gross domestic product (GDP) last year. U.S. autoworkers faced furloughs and production shut downs due to pandemic-driven disruptions in Asian semiconductor factories, contributing to large increases in the price of cars for U.S. consumers. One-third of the annual price increases in core consumer price index (CPI) last year was due to high car prices alone.
The Biden-Harris Administration has been working around the clock with Congress, our international allies and partners, and the private sector to expand U.S. chip manufacturing capacity, bring back critical American manufacturing jobs, address the chip shortage, and ensure we are not exposed to these disruptions again. Today, Intel will announce a new $20 billion factory outside Columbus, Ohio.
Today’s announcement is the latest marker of progress in the Biden-Harris Administration’s efforts to ramp up domestic manufacturing for critical goods like semiconductors, tackle near-term supply chain bottlenecks, revitalize our manufacturing base, and create good jobs here at home. This investment will create 7,000 construction jobs and another 3,000 permanent jobs, another sign of the strength of the American economy.
To accelerate this progress, the President is urging Congress to pass legislation to strengthen U.S. research and development and manufacturing for critical supply chains, including semiconductors. The Senate passed the U.S. Innovation and Competition Act (USICA) in June and the Administration is working with the House and Senate to finalize this legislation. It includes full funding for the CHIPS for America Act, which will provide $52 billion to catalyze more private-sector investments and continued American technological leadership.
Since the beginning of 2021, the semiconductor industry has announced nearly $80 billion in new investments in the United States through 2025, according to the Semiconductor Industry Association. These investments will create tens of thousands of good-paying U.S. jobs, support U.S. technological leadership, and promote security and resilience in global semiconductor supply chains. In addition to Intel’s announcement today, investments include:
A $17 billion Samsung factory in Texas – the result of sustained work by the Administration, including the President’s meeting with President Moon of the Republic of Korea in May.
Texas Instruments investing up to $30 billion in Texas;
A new Global Foundries factory in New York state;
Cree’s intention to spend $1 billion to expand a current plant in North Carolina;
SK Group investments in a new U.S. R&D center; and
Micron to expanding U.S. production.
The Biden-Harris Administration has led a whole of government effort to secure these critical investments.
President Biden prioritized domestic semiconductor manufacturing and research and development (R&D) shortly after taking office, designating semiconductor supply chains as a centerpiece of his national supply chain initiative launched in February 2021.
In June, the Commerce Department issued a set of recommendations on how to secure the U.S. semiconductor supply chain. Since that time, Commerce Secretary Gina Raimondo, National Security Advisor Jake Sullivan, and National Economic Council Director Brian Deese have held regular follow-up engagements with industry leaders and diplomatic partners and allies to advance practical solutions to strengthen the global semiconductor supply chain. This includes White House has met with the CEOs of multiple semiconductor companies in this effort.
In October, President Biden hosted a global summit on supply chains with the heads of state from 14 countries and the European Union on the margins of the G20 in Italy to discuss supply chain disruptions, with a focus on semiconductors. The President also focused on semiconductor supply chain resilience in his bilateral meetings with foreign leaders and directed the Administration to cooperate with Europe on strengthening global supply chains through the U.S.-E.U. Trade and Technology Council (TTC) and through the Quad’s focus on critical technologies.
Investments in new foundries are critical to the long-term resilience of our semiconductor supply chains. At the same time, the Administration is working to address the near-term disruptions in semiconductor supply chains that have contributed to challenges in a number of manufacturing sectors and to price increases for U.S. consumers.
In April 2021, the President hosted a virtual summit with leading firms that produce chips and those that use chips to identify practical ways to discuss actions they could to address the disruptions resulting from the global chip shortage. By the end of the year, the participants had announced new partnerships between semiconductor companies and U.S. automakers to strengthen the resiliency of the automotive chip supply chain.
In the summer, the Administration worked with governments and companies around the world to mitigate COVID-related disruptions to semiconductor manufacturing and in September 2021 established a global early alert system to identify and address pandemic-related disruptions.
The Commerce Department promoted transparency in semiconductor supply chains, including through a Fall 2021 survey on the chips shortage to identify the key chokepoints in the semiconductor supply chains. Over 150 responses were received from all parts of the supply chain – producers, consumers, and intermediaries – include responses from nearly all the major semiconductor producers and the major automakers. The results of the survey will be released publicly by the end of January 2021.
The U.S. Department of Defense has used Defense Production Act authorities to strengthen supply chains for key defense-related semiconductors.
U.S. Army Corps of Engineers to Invest $14 Billion from President’s Bipartisan Infrastructure Law and Other Appropriations to Strengthen Port and Waterway Supply Chains and Bolster Climate Resilience
The Biden Administration issued a fact sheet detailing its historic $14 billion investment in the nation’s ports and waterways – funding in fiscal 2022 for over 500 projects across 52 states and territories that will strengthen the nation’s supply chain, provide significant new economic opportunities nationwide, and bolster our defenses against climate change, and address a source of inflation while creating jobs:
Modern and resilient infrastructure strengthens our supply chains, supports U.S. competitiveness and economic growth, and protects communities from the accelerating impacts of climate change. Yet, decades of under-investment and neglect have left our nation’s infrastructure – from ports and waterways to levees and dams to the aquatic ecosystems that supply our water and energy – vulnerable to climate change and struggling to keep up with our strong economic recovery from the pandemic.
Recognizing the vital role of modern, resilient infrastructure in reducing costs for American families and businesses, President Biden secured unprecedented investments through the Bipartisan Infrastructure Law for the U.S. Army Corps of Engineers to increase climate resilience and make long overdue improvements at ports and waterways, as well as additional funds through supplemental appropriations to help impacted states and Tribes recover and become more resilient to natural disasters. Today, the Biden-Harris Administration is announcing that it will invest more than $14 billion of this funding in fiscal year 2022 for over 500 projects across 52 states and territories. These key projects will strengthen the nation’s supply chain, provide significant new economic opportunities nationwide, and bolster our defenses against climate change, including through:
The largest single investment ever to restore and revitalize the Everglades in Florida.
Expanding capacity at some of the nation’s largest and fastest-growing ports, including the Port of Long Beach.
Commitments to help underserved coastal communities build back more resilient from extreme weather.
A full list of projects receiving funding from the Bipartisan Infrastructure Law and other appropriations can be found HERE.
The investments announced today further advance the President’s Justice40 commitment to ensure that 40 percent of the overall benefits of Federal climate and clean energy investments flow to historically marginalized, underserved, and overburdened communities to build their economies. The investments also underscore how President Biden’s Bipartisan Infrastructure Law is delivering results to communities across America, advancing racial equity, combatting climate change, and creating job opportunities for American workers.
In just over two months since the President signed the historic legislation into law, the Administration has already mobilized resources to connect Tribal Nations to reliable, high-speed internet, replace, repair, and rehabilitate bridges across the country, upgrade critical infrastructure at 3,075 airports, update America’s aging water infrastructure, sewerage systems, pipes and service lines, stop toxic waste from harming communities, and more. With these additional investments, the U.S. Army Corps of Engineers will initiate projects in fiscal year 2022 that:
STRENGTHEN DOMESTIC SUPPLY CHAINS
American ports and waterways are a cornerstone of the U.S. economy. According to the 2021 Report Card for America’s Infrastructure Report issued by the American Society of Civil Engineers (ASCE), in 2018, America’s ports supported more than 30 million jobs and approximately 26% of our nation’s GDP. However, decades of neglect and underinvestment have strained their capacity and jeopardized supply chains.
Building on the work this Administration has done this past year to get goods flowing from ships to shelves faster, the U.S. Army Corps of Engineers is committing $4 billion through the President’s Bipartisan Infrastructure Law to expand capacity at key ports, allow passage of larger vessels, and further enhance the country’s ability to move goods. These waterside investments will compliment landside investments at our ports and across the goods movement chain such as the Port Infrastructure Development Grants announced in December. Specific projects for fiscal year 2022 include work to:
Enhance the Country’s Ability to Move Goods. America’s waterways are vital to getting goods moving faster and more efficiently through the nation. Recognizing the role of inland waterways in creating and sustaining jobs, relieving landside congestion, and providing more cost-effective transportation capacities, the Administration will provide $858 million to support the replacement of locks that keep water levels high enough for large cargo ships to pass through the upper Ohio River, west of Pittsburgh. The Administration will also provide more than $470 million to complete construction of a new lock along St. Mary’s River in Sault Saint Marie, Michigan, which serves as a passageway for nearly all domestically-produced iron ore. These funds will build on the Department of Transportation’s recent investments to enhance the movement of goods along the nation’s navigable waterways.
Reinforce America’s Largest Port Complex. The Administration will invest $8 million to improve commercial navigation and allow larger and more ships to pass at the Port of Long Beach, California – part of the nation’s largest port complex. The investment will support design work to widen the port’s main channel, deepen the entrance channel, and build an approach channel and turning basin. It also builds on the $52 million grant the Administration previously announced to support the Port of Long Beach’s on-dock rail facility, as well as a multi-billion dollar loan agreement with California to modernize the state’s ports, freight, and other goods movement infrastructure.
Move More Goods Faster at One of the Nation’s Fastest Growing Ports. The Administration will invest $69 million to improve navigation and expand capacity at Norfolk Harbor, Virginia, which handled 67 percent more containers in 2021 than it did 10 years ago. Work will include deepening and widening the harbor’s shipping channels to improve navigation and enable safer access for larger commercial and naval vessels, and to provide significant new economic opportunities to the region.
BOLSTER THE NATION’S DEFENSES AGAINST CLIMATE CHANGE AND ADVANCE ENVIRONMENTAL JUSTICE
Damage from extreme weather events and natural disasters, including those from Hurricane Ida, were estimated to cost the United States at least $141 billion in 2021, and is expected to increase significantly in the coming years. President Biden knows that down payments now to bolster the resilience of our infrastructure to climate change will save Americans money in the long run. The Biden-Harris Administration will commit $5.5 billion through the President’s Bipartisan Infrastructure Law to better protect communities from climate change, and protect vital ecosystems and the people and businesses throughout the country that rely on them.
For instance, the funding from the President’s Bipartisan Infrastructure Law announced today will:
Restore and Protect Critical Ecosystems and Water Supplies, Including the Everglades. The Administration is making the largest single investment in the Everglades in U.S. history. The iconic American landscape provides drinking water supply for over 8 million Floridians, supports the state’s $90 billion tourism economy, and is home to dozens of endangered or threatened species. However, rising sea levels and other climate change impacts are endangering this vital ecosystem and the people, businesses, and habitats it supports. Through President Biden’s Bipartisan Infrastructure Law, the Army Corps will invest $1.1 billion to restore, protect, and preserve the South Florida ecosystem and increase its resilience to the impacts of climate change. These funds will support improvements to the Everglades by capturing and storing excess surface water runoff, reducing excess water releases to water conservation areas, and minimizing seepage losses during dry periods.
Advance Environmental Justice. The investments announced today will further deliver on the President’s Justice40 commitment to ensure that 40 percent of the overall benefits from Federal investments in climate and clean energy flow to disadvantaged communities in building their local economies. The Administration will provide $163 million to restore the Cano Martin Penaurban tidal channel and surrounding areas of the San Juan Bay National Estuary. The urban waterway project will significantly improve the health and welfare of the surrounding communities in San Juan by reducing exposure to contaminated waters and sediments, improving water quality, and restoring fish and mangrove habitat. The Administration is also committing $40 million to the Espanola Valley, Rio Grande and Tributaries, New Mexico to restore and protect 958 acres of aquatic and riparian habitats. These habitats are critical to the functioning of the third longest river in the country, and are an integral part of constructing social identity and transmission and retention of traditional knowledge for both the Pueblo of Santa Clara and Ohkay Owingeh. In addition, the Army Corps is committing nearly $28 million to prevent coastal erosion of Kenai River Bluff in Alaska. In the coming year, the Army Corps will also engage with environmental justice communities in the development of a strategy to allocate $130 million for two pilot programs that target the needs of economically-disadvantaged communities.
Reduce Flood Risk. The Army Corps will leverage funds from the Bipartisan Infrastructure Law to increase community resilience to flooding, including $645 million to reduce coastal flood risk through 15 projects and $1.7 billion to reduce inland flood risk through an additional 15 projects across the country. Projects include $378 million to protect people, property, and the fragile marshland in coastal Louisiana, $250 million for storm surge barriers, levees, and pump stations to reduce storm risk to the City of Norfolk, Virginia, $66 million to refurbish the levee system along the Little Colorado River outside ofWinslow, Arizonain Navajo County, and $35 million in the San Joaquin River Basin to help reduce flood risk to the City of Stockton, California. As a result of Hurricane Ida, 90 percent of Terrebonne Parish in Louisiana sustained significant damages, including to five floodgates of the Morganza to the Gulf Hurricane Protection System.
In addition to the Bipartisan Infrastructure Law funds announced today, the Administration will invest more than $5.7 billion in fiscal year 2022 through the Disaster Relief and Supplemental Appropriations Act to reinforce disaster mitigation and recovery efforts in communities recovering from extreme weather events, and to better enable homes and businesses to reduce their risks of climate change. This includes $3.3 billion in funding for Louisiana, New Jersey, New York, and Pennsylvania, where major disasters were declared due to Hurricane Ida. In Louisiana, for instance, the Biden-Harris Administration will invest over $1.7 billion to help the state build back more resilient from extreme weather events, including through the replacement or modification of levees infrastructure on the east and west banks of Plaquemines Parish, completion of construction of the Atachafalaya Basin floodway system, and initiation construction for the Algiers sub-basin in southeast Louisiana.
President Joe Biden spoke to the nation on the day marking the one year anniversary of the January 6 insurrection, the attack on the Capitol and Congress aimed at impeding the Constitutional requirement for Congress to certify the results of the 2020 presidential election and interfere with the peaceful transition of power. In his address, Biden placed responsibility for the violent attack – the first since the War of 1812 and the first interruption of a peaceful transition of power after a free and fair election, promoted, incited and organized by the then-sitting but defeated president, in the nation’s nearly 250 years. He spoke to the need to continually protect democracy, especially in an era marked by the rise of authoritarians. Here is a highlighted transcript of President Biden’s remarks:
THE PRESIDENT: Madam Vice President, my fellow Americans: To state the obvious, one year ago today, in this sacred place, democracy was attacked — simply attacked. The will of the people was under assault. The Constitution — our Constitution — faced the gravest of threats.
Outnumbered and in the face of a brutal attack, the Capitol Police, the D.C. Metropolitan Police Department, the National Guard, and other brave law enforcement officials saved the rule of law.
Our democracy held. We the people endured. And we the people prevailed.
For the first time in our history, a president had not just lost an election, he tried to prevent the peaceful transfer of power as a violent mob breached the Capitol.
But they failed. They failed.
And on this day of remembrance, we must make sure that such an attack never, never happens again.
I’m speaking to you today from Statuary Hall in the United States Capitol. This is where the House of Representatives met for 50 years in the decades leading up to the Civil War. This is — on this floor is where a young congressman of Illinois, Abraham Lincoln, sat at desk 191.
Above him — above us, over that door leading into the Rotunda — is a sculpture depicting Clio, the muse of history. In her hands, an open book in which she records the events taking place in this chamber below.
Clio stood watch over this hall one year ago today, as she has for more than 200 years. She recorded what took place. The real history. The real facts. The real truth. The facts and the truth that Vice President Harris just shared and that you and I and the whole world saw with our own eyes.
The Bible tells us that we shall know the truth, and the truth shall make us free. We shall know the truth.
Well, here is the God’s truth about January 6th, 2021:
Close your eyes. Go back to that day. What do you see? Rioters rampaging, waving for the first time inside this Capitol a Confederate flag that symbolized the cause to destroy America, to rip us apart.
Even during the Civil War, that never, ever happened. But it happened here in 2021.
What else do you see? A mob breaking windows, kicking in doors, breaching the Capitol. American flags on poles being used as weapons, as spears. Fire extinguishers being thrown at the heads of police officers.
A crowd that professes their love for law enforcement assaulted those police officers, dragged them, sprayed them, stomped on them.
Over 140 police officers were injured.
We’ve all heard the police officers who were there that day testify to what happened. One officer called it, quote, a med- — “medieval” battle, and that he was more afraid that day than he was fighting the war in Iraq.
They’ve repeatedly asked since that day: How dare anyone — anyone — diminish, belittle, or deny the hell they were put through?
We saw it with our own eyes. Rioters menaced these halls, threatening the life of the Speaker of the House, literally erecting gallows to hang the Vice President of the United States of America.
But what did we not see?
We didn’t see a former president, who had just rallied the mob to attack — sitting in the private dining room off the Oval Office in the White House, watching it all on television and doing nothing for hours as police were assaulted, lives at risk, and the nation’s capital under siege.
This wasn’t a group of tourists. This was an armed insurrection.
They weren’t looking to uphold the will of the people. They were looking to deny the will of the people.
They were looking to uphold — they weren’t looking to uphold a free and fair election. They were looking to overturn one.
They weren’t looking to save the cause of America. They were looking to subvert the Constitution.
This isn’t about being bogged down in the past. This is about making sure the past isn’t buried.
That’s the only way forward. That’s what great nations do. They don’t bury the truth, they face up to it. Sounds like hyperbole, but that’s the truth: They face up to it.
We are a great nation.
My fellow Americans, in life, there’s truth and,tragically, there are lies — lies conceived and spread for profit and power.
We must be absolutely clear about what is true and what is a lie.
And here is the truth: The former president of the United States of America has created and spread a web of lies about the 2020 election. He’s done so because he values power over principle, because he sees his own interests as more important than his country’s interests and America’s interests, and because his bruised ego matters more to him than our democracy or our Constitution.
He can’t accept he lost, even though that’s what 93 United States senators, his own Attorney General, his own Vice President, governors and state officials in every battleground state have all said: He lost.
That’s what 81 million of you did as you voted for a new way forward.
He has done what no president in American history — the history of this country — has ever, ever done: He refused to accept the results of an election and the will of the American people.
While some courageous men and women in the Republican Party are standing against it, trying to uphold the principles of that party, too many others are transforming that party into something else. They seem no longer to want to be the party — the party of Lincoln, Eisenhower, Reagan, the Bushes.
But whatever my other disagreements are with Republicans who support the rule of law and not the rule of a single man, I will always seek to work together with them to find shared solutions where possible. Because if we have a shared belief in democracy, then anything is possible — anything.
And so, at this moment, we must decide: What kind of nation are we going to be?
Are we going to be a nation that accepts political violence as a norm?
Are we going to be a nation where we allow partisan election officials to overturn the legally expressed will of the people?
Are we going to be a nation that lives not by the light of the truth but in the shadow of lies?
We cannot allow ourselves to be that kind of nation. The way forward is to recognize the truth and to live by it.
The Big Lie being told by the former president and many Republicans who fear his wrath is that the insurrection in this country actually took place on Election Day — November 3rd, 2020.
Think about that. Is that what you thought? Is that what you thought when you voted that day? Taking part in an insurrection? Is that what you thought you were doing? Or did you think you were carrying out your highest duty as a citizen and voting?
The former president and his supporters are trying to rewrite history. They want you to see Election Day as the day of insurrection and the riot that took place here on January 6th as the true expression of the will of the people.
Can you think of a more twisted way to look at this country — to look at America? I cannot.
Here’s the truth: The election of 2020 was the greatest demonstration of democracy in the history of this country.
More of you voted in that election than have ever voted in all of American history. Over 150 million Americans went to the polls and voted that day in a pandemic — some at great risk to their lives. They should be applauded, not attacked.
Right now, in state after state, new laws are being written — not to protect the vote, but to deny it; not only to suppress the vote, but to subvert it; not to strengthen or protect our democracy, but because the former president lost.
Instead of looking at the election results from 2020 and saying they need new ideas or better ideas to win more votes, the former president and his supporters have decided the only way for them to win is to suppress your vote and subvert our elections.
It’s wrong. It’s undemocratic. And frankly, it’s un-American.
The second Big Lie being told by the former President and his supporters is that the results of the election of 2020 can’t be trusted.
The truth is that no election — no election in American history has been more closely scrutinized or more carefully counted.
Every legal challenge questioning the results in every court in this country that could have been made was made and was rejected — often rejected by Republican-appointed judges, including judges appointed by the former president himself, from state courts to the United States Supreme Court.
Recounts were undertaken in state after state. Georgia — Georgia counted its results three times, with one recount by hand.
Phony partisan audits were undertaken long after the election in several states. None changed the results. And in some of them, the irony is the margin of victory actually grew slightly.
So, let’s speak plainly about what happened in 2020. Even before the first ballot was cast, the former president was preemptively sowing doubt about the election results. He built his lie over months. It wasn’t based on any facts. He was just looking for an excuse — a pretext — to cover for the truth.
He’s not just a former president. He’s a defeated former president — defeated by a margin of over 7 million of your votes in a full and free and fair election.
There is simply zero proof the election results were inaccurate. In fact, in every venue where evidence had to be produced and an oath to tell the truth had to be taken, the former president failed to make his case.
Just think about this: The former president and his supporters have never been able to explain how they accept as accurate the other election results that took place on November 3rd — the elections for governor, United States Senate, the House of Representatives — elections in which they closed the gap in the House.
They challenge none of that. The President’s name was first, then we went down the line — governors, senators, House of Representatives. Somehow, those results were accurate on the same ballot, but the presidential race was flawed?
And on the same ballot, the same day, cast by the same voters.
The only difference: The former President didn’t lose those races; he just lost the one that was his own.
Finally, the third Big Lie being told by a former President and his supporters is that the mob who sought to impose their will through violence are the nation’s true patriots.
Is that what you thought when you looked at the mob ransacking the Capitol, destroying property, literally defecating in the hallways, rifling through desks of senators and representatives, hunting down members of congress? Patriots? Not in my view.
To me, the true patriots were the more than 150 [million] Americans who peacefully expressed their vote at the ballot box, the election workers who protected the integrity of the vote, and the heroes who defended this Capitol.
You can’t love your country only when you win.
You can’t obey the law only when it’s convenient.
You can’t be patriotic when you embrace and enable lies. Those who stormed this Capitol and those who instigated and incited and those who called on them to do so held a dagger at the throat of America — at American democracy. They didn’t come here out of patriotism or principle. They came here in rage — not in service of America, but rather in service of one man.
Those who incited the mob — the real plotters — who were desperate to deny the certification of the election and defy the will of the voters.
But their plot was foiled. Congressmen — Democrats and Republicans — stayed. Senators, representatives, staff — they finished their work the Constitution demanded. They honored their oath to defend the Constitution against all enemies, foreign and domestic.
Look, folks, now it’s up to all of us — to “We the People” — to stand for the rule of law, to preserve the flame of democracy, to keep the promise of America alive.
That promise is at risk, targeted by the forces that value brute strength over the sanctity of democracy, fear over hope, personal gain over public good.
Make no mistake about it: We’re living at an inflection point in history.
Both at home and abroad, we’re engaged anew in a struggle between democracy and autocracy, between the aspirations of the many and the greed of the few, between the people’s right of self-determination and self- — the self-seeking autocrat.
From China to Russia and beyond, they’re betting that democracy’s days are numbered. They’ve actually told me democracy is too slow, too bogged down by division to succeed in today’s rapidly changing, complicated world.
And they’re betting — they’re betting America will become more like them and less like us. They’re betting that America is a place for the autocrat, the dictator, the strongman.
I do not believe that. That is not who we are. That is not who we have ever been. And that is not who we should ever, ever be.
Our Founding Fathers, as imperfect as they were, set in motion an experiment that changed the world — literally changed the world.
Here in America, the people would rule, power would be transferred peacefully — never at the tip of a spear or the barrel of a gun.
And they committed to paper an idea that couldn’t live up to — they couldn’t live up to but an idea that couldn’t be constrained: Yes, in America all people are created equal.
We reject the view that if you succeed, I fail; if you get ahead, I fall behind; if I hold you down, I somehow lift myself up.
The former President, who lies about this election, and the mob that attacked this Capitol could not be further away from the core American values.
They want to rule or they will ruin — ruin what our country fought for at Lexington and Concord; at Gettysburg; at Omaha Beach; Seneca Falls; Selma, Alabama. What — and what we were fighting for: the right to vote, the right to govern ourselves, the right to determine our own destiny.
And with rights come responsibilities: the responsibility to see each other as neighbors — maybe we disagree with that neighbor, but they’re not an adversary; the responsibility to accept defeat then get back in the arena and try again the next time to make your case; the responsibility to see that America is an idea — an idea that requires vigilant stewardship.
As we stand here today — one year since January 6th, 2021 — the lies that drove the anger and madness we saw in this place, they have not abated.
So, we have to be firm, resolute, and unyielding in our defense of the right to vote and to have that vote counted.
Some have already made the ultimate sacrifice in this sacred effort.
Jill and I have mourned police officers in this Capitol Rotunda not once but twice in the wake of January 6th: once to honor Officer Brian Sicknick, who lost his life the day after the attack, and a second time to honor Officer Billy Evans, who lost his life defending this Capitol as well.
We think about the others who lost their lives and were injured and everyone living with the trauma of that day — from those defending this Capitol to members of Congress in both parties and their staffs, to reporters, cafeteria workers, custodial workers, and their families.
Don’t kid yourself: The pain and scars from that day run deep.
I said it many times and it’s no more true or real than when we think about the events of January 6th: We are in a battle for the soul of America. A battle that, by the grace of God and the goodness and gracious — and greatness of this nation, we will win.
Believe me, I know how difficult democracy is. And I’m crystal clear about the threats America faces. But I also know that our darkest days can lead to light and hope.
From the death and destruction, as the Vice President referenced, in Pearl Harbor came the triumph over the forces of fascism.
From the brutality of Bloody Sunday on the Edmund Pettus Bridge came historic voting rights legislation.
So, now let us step up, write the next chapter in American history where January 6th marks not the end of democracy, but the beginning of a renaissance of liberty and fair play.
I did not seek this fight brought to this Capitol one year ago today, but I will not shrink from it either.
I will stand in this breach. I will defend this nation. And I will allow no one to place a dagger at the throat of our democracy.
We will make sure the will of the people is heard; that the ballot prevails, not violence; that authority in this nation will always be peacefully transferred.
I believe the power of the presidency and the purpose is to unite this nation, not divide it; to lift us up, not tear us apart; to be about us — about us, not about “me.”
Deep in the heart of America burns a flame lit almost 250 years ago — of liberty, freedom, and equality.
This is not a land of kings or dictators or autocrats. We’re a nation of laws; of order, not chaos; of peace, not violence.
Here in America, the people rule through the ballot, and their will prevails.
So, let us remember: Together, we’re one nation, under God, indivisible; that today, tomorrow, and forever, at our best, we are the United States of America.
God bless you all. May God protect our troops. And may God bless those who stand watch over our democracy.
The White House put out this Fact Sheet summarizing the results of United States engagement in COP26 and renewed priority to combat the climate crisis and “keep 1.5 alive”.
“President Biden reiterated that tackling the climate crisis requires the whole of society – communities, businesses, states, local governments, Tribal nations and nations around the world – to come together to deliver economic prosperity, peace, and security.”
On day one at the U.N. Framework Convention on Climate Change Conference of the Parties (COP26), President Joe Biden made clear that Glasgow must raise global ambition during this decisive decade of climate action to preserve our shared future. The President reiterated that tackling the climate crisis requires the whole of society – communities, businesses, states, local governments, Tribal nations and nations around the world – to come together to deliver economic prosperity, peace, and security.
The President and United States have led by the power of example, taking bold steps to reduce emissions and create economic opportunity at home and abroad, while rallying other countries to step up. On his first day in office, President Biden rejoined the Paris Agreement, restored U.S. leadership on the world stage, and reestablished our position to tackle the climate crisis at home and abroad. He convened the first-ever Leaders Summit on Climate that affirmed the need for unprecedented global cooperation and ambition and convened a U.S.-led Major Economies Forum on Energy and Climate.
Congress passed President Biden’s Bipartisan Infrastructure Deal, which will expand access to clean drinking water, make unprecedented investments in clean energy infrastructure, and is a critical step towards reaching our goal of a net-zero emissions economy by 2050. When paired with the Build Back Better Framework which the President also looks forward to signing into law, these once-in-a-generation investments will reduce our emissions by well over one gigaton this decade – ensuring we meet President Biden’s commitment to reduce U.S. emissions by 50-52% from 2005 levels in 2030 and unlock the full potential of a clean energy economy that combats climate change, advances environmental justice, and creates good-paying, union jobs.
Today, as COP26 ended, over 190 countries concluded negotiations on a text that includes a global commitment to tackle the climate crisis and keep the goal to limit global warming to 1.5 degrees Celsius within reach. The text sets out a path to increase the commitments and actions of countries starting next year, outlines new rules of the road for the Paris Agreement that will provide transparency for countries to turn words into actions, and doubles the amount of support that is going to vulnerable countries to enhance their resilience to the crisis. But it is not enough. More work remains as we leave Glasgow to get where science tells us we need to be and the United States will continue to push for more progress at home and abroad in this decisive decade for climate action.
As the U.S. engaged in intensive diplomacy and partnership with countries around the world, collective action increased global ambition, innovation and action to tackle the climate crisis. At the close of COP26:
90% of the world’s GDP now has net zero commitments and 154 countries put forward new climate action plans to cut emissions or “NDCs”. In April, President Biden announced a new target for the United States to achieve a 50-52 percent reduction from 2005 levels in economy-wide net greenhouse gas pollution in 2030 and convened the Leaders Summit on Climate to secure stronger targets from world leaders.
The United States and European Union announced that over 100 countries, covering nearly half of global methane emissions and almost 70% of global GDP signed the Global Methane Pledge, including six of the world’s top 10 methane emitters. This complements the U.S. Methane Emissions Reduction Action Plan – bold steps announced by President Biden to redouble efforts from across the government to dramatically reduce U.S. methane emissions, cut consumer costs, protect workers and communities, maintain and create thousands of high-quality, union jobs, and promote U.S. innovation and manufacturing of critical new technologies.
Developed countries made progress towards the $100 billion climate finance mobilization goal. In April, President Biden has released the first-ever U.S. International Climate Finance Plan and announced a quadrupling of the U.S. international climate finance pledge at the UN General Assembly in September, including the largest U.S. commitment ever made to reduce climate impacts on those most vulnerable to climate change worldwide.
The U.S. announced our first-ever contribution to the Adaptation Fund which at COP26 received $356 million in new support from contributing national and regional governments. President Biden announced the launch of the President’s Emergency Plan for Adaptation and Resilience (PREPARE), a whole-of-government initiative that will serve as the cornerstone of the U.S. Government response to addressing the increasing impacts of the global climate crises in order to enhance global stability.
Twenty-five countries, including the United States, and five financial institutions pledged to end new international finance for unabated fossil fuel energy by the end of 2022, except in limited and clearly defined circumstances that are consistent with the 1.5 degrees Celsius warming limit, reorienting tens of billions of dollars of public finance and trillions of private finance towards low carbon priorities.
Over $20 billion of new public and philanthropic finance has been committed to support developing countries to transition away from coal.
Countries representing 90% of global forest cover pledged to reduce deforestation to zero by 2030, backed by the biggest ever commitment of public funds for forest conservation and a global roadmap to make 75% of forest commodity supply chains sustainable. Twelve countries signed the Global Forest Finance Pledge: a target of $12 billion to combat deforestation. The United States released the Plan to Conserve Global Forests: Critical Carbon Sinks, a first-of-its-kind, whole-of-government effort to preserve global ecosystems which serve as vital carbon sinks.
The United States launched the First Movers Coalition with more than 25 Founding Members including some of the largest companies in the world, across a wide range of industries, with hundreds of billions of dollars in purchasing power. The buyers’ clubs assembled by this initiative will create early market demand for innovations across eight “need-to-abate” sectors—steel, trucking, shipping, aviation, aluminum, concrete, chemicals, and direct air capture—which represent more than one-third of the world’s carbon emissions today, and is expected to grow in the coming decades.
China joined the United States, the world’s two biggest economies and emitters, in committing in a new Joint Declaration to collaborate on increased ambition to keep 1.5 degrees Celsius warming within reach, and China for the first time committed to develop a plan to address methane emissions and accelerate its coal phase-down.
The United States, UK, EU, France, and Germany announced a partnership with South Africa to chart a course from coal to clean energy through the creation of new jobs and opportunities for South African coal communities. This partnership will seek to prevent up to 1-1.5 gigatons of emissions over the next 20 years in support of South Africa’s accelerated transition to a low emission, climate resilient economy, and aims to mobilize $8.5 billion for the first phase of financing, through various mechanisms including grants, concessional loans, investments, risk sharing, and other instruments for private sector mobilization. This partnership comes as the United States continues to redouble efforts to invest in our nation’s energy communities, including delivering the largest investment in American history to tackle legacy pollution while creating thousands of new good paying jobs as part of the President’s Bipartisan Infrastructure Deal.
The United States and the United Arab Emirates launched the Agricultural Innovation Mission alongside more than 30 countries and more than 45 non-government partners to increase and accelerate agricultural and food systems innovation in support of climate action. The initiative has already garnered an $4 billion in increased investment in climate smart agriculture and food systems innovation, with the United States planning to mobilize $1 billion over five years.
All too often, especially in the Trump years, veterans and active military have been used as props and as pawns to achieve personal and political gain. Trump demeaned Senator John McCain’s heroism as a prisoner of war in Vietnam and later called those who made the ultimate sacrifice for their country, “losers and suckers” and repeatedly questioned the intelligence of those who serveand couldn’t be bothered to visit the graves of Americans who died in World War I in a cemetery while in France.
Well before Joe Biden became President, he and First Lady Jill Biden were activists on behalf of the military, veterans and military families. As Second Lady, Jill Biden teamed with then First Lady Michelle Obama to create Joining Forces – the White House initiative to support veteran and military families, caregivers, and survivors – to solve many of the problems that military families and veterans face.Now, as President, Biden has advanced policies on behalf of active military, veterans and their familiesand the First Lady continues her work with Joining Forces.
I often have problems each Veterans Day and Memorial Day because these events shroud the horrors of war in glory – necessary because otherwise no one would sign up. And I have often warned about the difference between lying the nation into war as George W. Bush did to invade Iraq, and Kennedy, Johnson and Nixon did during Vietnam, using war for political gain, as Reagan did in invading Grenada, being used by callous business interests to make their fortune, like World War I, and a justified war like World War II.
This Veterans Day, November 11, 2021, Biden’s Proclamation is genuine and speaks to this administration’s commitment: “Our Nation has only one truly sacred obligation: to properly prepare and equip our service members when we send them into harm’s way and to care for them and their families when they return home.”— Karen Rubin, news-photos-features.com
VETERANS DAY, 2021
BY THE PRESIDENT OF THE UNITED STATES OF AMERICA
A PROCLAMATION
For generations, millions of Americans have answered the call to serve — taking the sacred oath to defend and preserve our Nation’s ideals of liberty and democracy. These patriots represent the best of us. On Veterans Day, we honor their service, dedication, and valor and are forever grateful for their sacrifice.
Our Nation has only one truly sacred obligation: to properly prepare and equip our service members when we send them into harm’s way and to care for them and their families when they return home. For our 19 million veterans, that means ensuring that they have access to the support and resources for a future of security, opportunity, and dignity. This is even more important as we continue to recover from the global COVID-19 pandemic.
Our obligation to support our Nation’s veterans and their families is personal for me and the entire Biden family, and I remain committed to ensuring that every veteran receives the care and support they have earned. The recently passed bipartisan Infrastructure Investment and Jobs Act will create millions of good jobs for veterans and grow opportunities for veteran-owned businesses. My Build Back Better framework also prioritizes improvements to VA health care, ensuring that every veteran — including our often-underserved female and LGBTQ+ veterans — receives competent, world-class health care through the Department of Veterans Affairs. Last month, the White House Gender Policy Council released the first-ever United States Strategy for Gender Equity and Equality, which included the unique needs and contributions of women service members and veterans. And the Department of Veterans Affairs is also working to get every eligible veteran the information and opportunity they need to register and vote, protecting their voice in the democracy they fought to preserve.
Ensuring veterans have timely access to services and benefits is at the center of my Administration’s commitment to fulfilling our sacred obligation. This includes addressing the adverse health effects of service-related exposures. In August, the Department of Veterans Affairs announced it will begin processing disability claims for respiratory conditions connected to exposure during military service in Southwest Asia and other areas. My Administration also added three conditions to the list of those presumptively associated with exposure to Agent Orange, ending the long wait for disability benefits for many Vietnam era veterans. In the coming months, we are committed to taking additional action to address potential adverse health effects associated with military environmental exposures.
So many of our veterans carry the scars from their service — both visible and invisible — and it is our Nation’s responsibility to help them heal. Too many veterans and service members have considered suicide or taken their own lives, and addressing this tragedy is a national responsibility. That is why I have made military and veteran suicide prevention a top priority, and earlier this month, I released a new comprehensive, cross-sector public health strategy to reduce military and veteran suicide. Implementing this approach will unite us around a common mission and accelerate meaningful improvements in suicide prevention programs, helping us live up to our sacred obligation to those who have served in our Nation’s Armed Forces.
Fulfilling our Nation’s promise to our veterans and military families, caregivers, and survivors is not only a moral imperative — it is crucial to our national security and to maintaining the finest military the world has ever known. We are a Nation that keeps our promises. That is why my Administration is dedicated to a whole-of-government approach in responding to the needs of our veterans and their families, caregivers, and survivors.
Through the First Lady’s work with Joining Forces — the White House initiative to support veteran and military families, caregivers, and survivors — my Administration is addressing employment and entrepreneurship, military and veteran child education, and health and well-being for veteran families. Earlier this year, the First Lady met with military and veteran families to learn how we can better support and prioritize their needs, and in September, Joining Forces and the National Security Council released a report outlining the first round of Administration-wide commitments and proposals that support veteran and military families, caregivers, and survivors. These efforts will honor our sacred obligation to support our veteran families and ensure they receive the resources they need to thrive.
On Veterans Day, we honor our Nation’s veterans, who have given so much to protect our freedoms and the freedom of others around the globe. They represent the highest ideals of our country. While we can never fully repay the debt we owe these heroes, we will honor their service and provide them the care and support they deserve. We also salute and show gratitude for all who ensure our Armed Forces remain strong, united, and unmatched…
I encourage all Americans to recognize the valor, courage, and sacrifice of our veterans through appropriate ceremonies and private prayers. I call upon Federal, State, and local officials to display the flag of the United States of America and to participate in patriotic activities in their communities. And I call on all Americans, including civic and fraternal organizations, places of worship, schools, and communities, to support this day with commemorative expressions and programs.
Upon the House passing the historic, $1.2 trillion bipartisan Infrastructure Investment and Jobs Act, President Joe Biden issued this statement:
Tonight, we took a monumental step forward as a nation.
The United States House of Representatives passed the Infrastructure Investment and Jobs Act, a once-in-generation bipartisan infrastructure bill that will create millions of jobs, turn the climate crisis into an opportunity, and put us on a path to win the economic competition for the 21st Century.
It will create good-paying jobs that can’t be outsourced. Jobs that will transform our transportation system with the most significant investments in passenger and freight rail, roads, bridges, ports, airports, and public transit in generations.
This will make it easier for companies to get goods to market more quickly and reduce supply chain bottlenecks now and for decades to come. This will ease inflationary pressures and lower costs for working families.
The bill will create jobs replacing lead water pipes so every family can drink clean water.
It will make high-speed internet affordable and available everywhere in America.
This bill will make historic and significant strides that take on the climate crisis. It will build out the first-ever national network of electric vehicle charging stations across the country. We will get America off the sidelines on manufacturing solar panels, wind farms, batteries, and electric vehicles to grow these supply chains, reward companies for paying good wages and for sourcing their materials from here in the United States, and allow us to export these products and technologies to the world.
It will also make historic investments in environmental clean-up and remediation, and build up our resilience for the next superstorms, droughts, wildfires, and hurricanes that cost us billions of dollars in damage each year.
I’m also proud that a rule was voted on that will allow for passage of my Build Back Better Act in the House of Representatives the week of November 15th.
The Build Back Better Act will be a once-in-a-generation investment in our people.
It will lower bills for healthcare, child care, elder care, prescription drugs, and preschool. And middle-class families get a tax cut.
This bill is also fiscally responsible, fully paid for, and doesn’t raise the deficit. It does so by making sure the wealthiest Americans and biggest corporations begin to pay their fair share and doesn’t raise taxes a single cent on anyone making less than $400,000 per year.
I look forward to signing both of these bills into law.
Generations from now, people will look back and know this is when America won the economic competition for the 21st Century.
FACT SHEET: The Bipartisan Infrastructure Deal
Today, Congress passed the Bipartisan Infrastructure Deal (Infrastructure Investment and Jobs Act), a once-in-a-generation investment in our nation’s infrastructure and competitiveness. For far too long, Washington policymakers have celebrated “infrastructure week” without ever agreeing to build infrastructure. The President promised to work across the aisle to deliver results and rebuild our crumbling infrastructure. After the President put forward his plan to do exactly that and then negotiated a deal with Members of Congress from both parties, this historic legislation is moving to his desk for signature.
This Bipartisan Infrastructure Deal will rebuild America’s roads, bridges and rails, expand access to clean drinking water, ensure every American has access to high-speed internet, tackle the climate crisis, advance environmental justice, and invest in communities that have too often been left behind. The legislation will help ease inflationary pressures and strengthen supply chains by making long overdue improvements for our nation’s ports, airports, rail, and roads. It will drive the creation of good-paying union jobs and grow the economy sustainably and equitably so that everyone gets ahead for decades to come. Combined with the President’s Build Back Framework, it will add on average 1.5 million jobs per year for the next 10 years.
This historic legislation will:
Deliver clean water to all American families and eliminate the nation’s lead service lines. Currently, up to 10 million American households and 400,000 schools and child care centers lack safe drinking water. The Bipartisan Infrastructure Deal will invest $55 billion to expand access to clean drinking water for households, businesses, schools, and child care centers all across the country. From rural towns to struggling cities, the legislation will invest in water infrastructure and eliminate lead service pipes, including in Tribal Nations and disadvantaged communities that need it most.
Ensure every American has access to reliable high-speed internet. Broadband internet is necessary for Americans to do their jobs, to participate equally in school learning, health care, and to stay connected. Yet, by one definition, more than 30 million Americans live in areas where there is no broadband infrastructure that provides minimally acceptable speeds – a particular problem in rural communities throughout the country. And, according to the latest OECD data, among 35 countries studied, the United States has the second highest broadband costs. The Bipartisan Infrastructure Deal will deliver $65 billion to help ensure that every American has access to reliable high-speed internet through a historic investment in broadband infrastructure deployment. The legislation will also help lower prices for internet service and help close the digital divide, so that more Americans can afford internet access.
Repair and rebuild our roads and bridges with a focus on climate change mitigation, resilience, equity, and safety for all users. In the United States, 1 in 5 miles of highways and major roads, and 45,000 bridges, are in poor condition. The legislation will reauthorize surface transportation programs for five years and invest $110 billion in additional funding to repair our roads and bridges and support major, transformational projects. The Bipartisan Infrastructure Deal makes the single largest investment in repairing and reconstructing our nation’s bridges since the construction of the interstate highway system. It will rebuild the most economically significant bridges in the country as well as thousands of smaller bridges. The legislation also includes the first ever Safe Streets and Roads for All program to support projects to reduce traffic fatalities, which claimed more than 20,000 lives in the first half of 2021.
Improve transportation options for millions of Americans and reduce greenhouse emissions through the largest investment in public transit in U.S. history. America’s public transit infrastructure is inadequate – with a multibillion-dollar repair backlog, representing more than 24,000 buses, 5,000 rail cars, 200 stations, and thousands of miles of track, signals, and power systems in need of replacement. Communities of color are twice as likely to take public transportation and many of these communities lack sufficient public transit options. The transportation sector in the United States is now the largest single source of greenhouse gas emissions. The legislation includes $39 billion of new investment to modernize transit, in addition to continuing the existing transit programs for five years as part of surface transportation reauthorization. In total, the new investments and reauthorization in the Bipartisan Infrastructure Deal provide $89.9 billion in guaranteed funding for public transit over the next five years — the largest Federal investment in public transit in history. The legislation will expand public transit options across every state in the country, replace thousands of deficient transit vehicles, including buses, with clean, zero emission vehicles, and improve accessibility for the elderly and people with disabilities.
Upgrade our nation’s airports and ports to strengthen our supply chains and prevent disruptions that have caused inflation. This will improve U.S. competitiveness, create more and better jobs at these hubs, and reduce emissions. Decades of neglect and underinvestment in our infrastructure have left the links in our goods movement supply chains struggling to keep up with our strong economic recovery from the pandemic. The Bipartisan Infrastructure Deal will make the fundamental changes that are long overdue for our nation’s ports and airports so this will not happen again. The United States built modern aviation, but our airports lag far behind our competitors. According to some rankings, no U.S. airports rank in the top 25 of airports worldwide. Our ports and waterways need repair and reimagination too. The legislation invests $17 billion in port infrastructure and waterways and $25 billion in airports to address repair and maintenance backlogs, reduce congestion and emissions near ports and airports, and drive electrification and other low-carbon technologies. Modern, resilient, and sustainable port, airport, and freight infrastructure will strengthen our supply chains and support U.S. competitiveness by removing bottlenecks and expediting commerce and reduce the environmental impact on neighboring communities.
Make the largest investment in passenger rail since the creation of Amtrak. U.S. passenger rail lags behind the rest of the world in reliability, speed, and coverage. China already has 22,000 miles of high-speed rail, and is planning to double that by 2035. The legislation positions rail to play a central role in our transportation and economic future, investing $66 billion in additional rail funding to eliminate the Amtrak maintenance backlog, modernize the Northeast Corridor, and bring world-class rail service to areas outside the northeast and mid-Atlantic. This is the largest investment in passenger rail since Amtrak’s creation, 50 years ago and will create safe, efficient, and climate-friendly alternatives for moving people and freight.
Build a national network of electric vehicle (EV) chargers. U.S. market share of plug-in EV sales is only one-third the size of the Chinese EV market. That needs to change. The legislation will invest $7.5 billion to build out a national network of EV chargers in the United States. This is a critical step in the President’s strategy to fight the climate crisis and it will create good U.S. manufacturing jobs. The legislation will provide funding for deployment of EV chargers along highway corridors to facilitate long-distance travel and within communities to provide convenient charging where people live, work, and shop. This investment will support the President’s goal of building a nationwide network of 500,000 EV chargers to accelerate the adoption of EVs, reduce emissions, improve air quality, and create good-paying jobs across the country.
Upgrade our power infrastructure to deliver clean, reliable energy across the country and deploy cutting-edge energy technology to achieve a zero-emissions future. According to the Department of Energy, power outages cost the U.S. economy up to $70 billion annually. The Bipartisan Infrastructure Deal’s more than $65 billion investment includes the largest investment in clean energy transmission and grid in American history. It will upgrade our power infrastructure, by building thousands of miles of new, resilient transmission lines to facilitate the expansion of renewables and clean energy, while lowering costs. And it will fund new programs to support the development, demonstration, and deployment of cutting-edge clean energy technologies to accelerate our transition to a zero-emission economy.
Make our infrastructure resilient against the impacts of climate change, cyber-attacks, and extreme weather events. Millions of Americans feel the effects of climate change each year when their roads wash out, power goes down, or schools get flooded. Last year alone, the United States faced 22 extreme weather and climate-related disaster events with losses exceeding $1 billion each – a cumulative price tag of nearly $100 billion. People of color are more likely to live in areas most vulnerable to flooding and other climate change-related weather events. The legislation makes our communities safer and our infrastructure more resilient to the impacts of climate change and cyber-attacks, with an investment of over $50 billion to protect against droughts, heat, floods and wildfires, in addition to a major investment in weatherization. The legislation is the largest investment in the resilience of physical and natural systems in American history.
Deliver the largest investment in tackling legacy pollution in American history by cleaning up Superfund and brownfield sites, reclaiming abandoned mines, and capping orphaned oil and gas wells. In thousands of rural and urban communities around the country, hundreds of thousands of former industrial and energy sites are now idle – sources of blight and pollution. Proximity to a Superfund site can lead to elevated levels of lead in children’s blood. The bill will invest $21 billion clean up Superfund and brownfield sites, reclaim abandoned mine land and cap orphaned oil and gas wells. These projects will remediate environmental harms, address the legacy pollution that harms the public health of communities, create good-paying union jobs, and advance long overdue environmental justice This investment will benefit communities of color as, it has been found that 26% of Black Americans and 29% of Hispanic Americans live within 3 miles of a Superfund site, a higher percentage than for Americans overall.
According to a new report from Moody’s this morning, President Biden’s bipartisan infrastructure deal and Build Back Better Framework will add 1.5 million jobs per year on average across the whole decade, while accelerating America’s path to full employment and increasing labor force participation.
Moody’s also projects that total GDP will increase by nearly $3 trillion relative to the baseline over the next decade.
And, the Moody’s report confirms what the President has said for weeks: that these sorts of investments in making our economy more productive will keep prices stable and decrease inflationary pressure.
Moody’s notes that, “the legislation is also designed to ease the financial burden of inflation for lower- and middle-income Americans by helping with the cost of childcare, eldercare, education, healthcare and housing for these income groups.” The Moody’s report concludes that, “failing to pass legislation would diminish the economy’s prospects.”
Since President Biden took office, there has been historic job growth – nearly 5 million new jobs, the most in any President’s first eight months on record. The average number of new unemployment insurance claims has been cut by more than 60 percent and small business optimism has returned to its pre-pandemic levels. Independent projections from the CBO, the IMF, the Federal Reserve, the World Bank, the OECD, and many others all forecast America this year reaching the highest levels of growth in decades thanks to the President’s success in getting economic relief to the middle-class and curbing the pandemic. While the American Rescue Plan is changing the course of the pandemic and delivering relief for working families, this is no time to build back to the way things were.
This is the moment to reimagine and rebuild a new economy by making transformational investments in our middle-class and economic competitiveness. The President’s bipartisan Infrastructure Investment and Jobs Act and Build Back Better Framework will rebuild the economy from the bottom up and the middle out, ease the burden of high costs on working families, and deliver one of the biggest middle class tax cuts ever.
By: Lily Batchelder, Assistant Secretary for Tax Policy
The Build Back Better invests meaningfully in American families and workers, while laying the foundation for meeting imperative climate goals. When the President released the Build Back Better framework last week, he proposed $2 trillion in savings that would more than pay for the critical investments in the legislation – and in fact generate net deficit reduction. With the release of the text of the Build Back Better Act in the House and scoring from the Joint Committee on Taxation, we can update the estimate of fiscal savings.
The legislation would, as the President proposed, generate more than $2 trillion in savings. These savings come from ensuring large multinational corporations and wealthy Americans pay their fair share and reducing the cost of prescription drugs. These provisions will not raise taxes on any taxpayer making less than $400,000.
The table below includes the latest estimates by the Joint Committee on Taxation, Congressional Budget Office, and the Treasury Department of the revenue raising provisions in the bill. The bottom line is that the Build Back Better Act under consideration in the House of Representatives will be fully paid for and reduce the deficit.
At the crux of reforms to the tax code is a historic overhaul of the international tax regime, whose global adoption has been successfully negotiated with 136 countries representing nearly 95% of the world’s economy. As a result of these changes, the ability of large corporations to shift profits abroad will be substantially limited, and the race to the bottom in corporate taxation will no longer be a driving force weakening capital taxation. The Build Back Better Act adopts the agreed-upon 15% country-by-country minimum tax on the foreign profits of U.S. multinational corporations and includes strong incentives for any hold-out countries to join the agreement through a separate tax on companies based in such hold-out jurisdictions. Together with other international and business tax reforms and loophole closers, these provisions are estimated to generate over $350 billion in additional U.S. tax revenue.
The Act further ensures that large, profitable corporations will pay a minimum amount of tax by imposing a 15% minimum tax on companies that report over $1 billion in profits to their shareholders. Less than 0.00075% of U.S. businesses will owe this tax in a given year, which will raise more than $300 billion over the course of the next decade.
Over $200 billion is generated from a surtax on multi-millionaires (the top 0.02% of taxpayers making $10 million or more annually), and about $400 billion comes from closing loopholes that allow some wealthy taxpayers to avoid paying Medicare taxes on their earnings and permit well-off taxpayers to offset ordinary income with business losses.
The largest pay-for in the bill is not a tax increase at all. By collecting taxes that are already owed—and disproportionately unpaid by the highest-earners—the Build Back Better Act will generate at least $400 billion in additional revenue. Over the last decade, an under-resourced IRS has been unable to appropriately focus attention on top earners who are most responsible for the tax gap. Indeed, audit rates decreased more over that period for high earners than for Earned Income Tax Credit recipients. This additional revenue will result from providing the IRS with much-needed resources to pursue wealthy tax evaders, modernize outdated technological infrastructure, and provide meaningful taxpayer services.
Even beyond their sizable revenue-raising potential, these collective policies make the American economy more competitive by reducing profit shifting, ending a corporate tax race to the bottom, and overhauling a two-tiered system of tax administration—where American workers pay what they owe, but the wealthiest often do not.
These are historic policy achievements in and of themselves—and they also pay for transformational investments that will improve the lives of American workers, our children, and the generations that will follow.
Revenue Raisers in Build Back Better Act
Revenue (in billions)
International and Other Business Reforms
$371
15% Minimum Tax on the Largest Corporations
$319
AGI Surtax for Multi-Millionaires
$228
Medicare Tax Loophole for High Earners
$252
Limit Business Losses for High Earners
$160
Stock Buybacks
$124
IRS Investments in Compliance, IT, and Taxpayer Services*
** Source: The framework released by the White House last week proposed repealing the prescription drug rebate rule as negotiations continued on prescription drug reform. Based on the Congressional Budget Office, adjusted downward for reforms in bipartisan infrastructure framework, this would have saved about $150 billion. Other components of the Administration estimate the deal reached on prescription drug reform announced this week, which includes additional reforms, will generate about an additional $100 billion in savings, based on Congressional Budget Officeestimates of prescription drug negotiations in previous legislation. A more precise CBO estimate will be available in the future.
The White House provided this fact sheet on how President Biden’s Build Back Better framework will support the “sandwich generation”:
Too many Americans struggle with the high costs of raising children, caring for a sick family member, providing long-term care for people with disabilities or older adults, and addressing the myriad other caregiving challenges. These pressures are particularly acute for those with multiple caregiving responsibilities. As of 2018, more than one-in-ten parents (12 percent, or over 8 million parents) had a child under 18 in the home and were providing unpaid care to an adult, making them part of the “sandwich generation.” This work is especially likely to fall on women, as 5 million mothers are part of the sandwich generation, compared to 3.2 million fathers. Three-quarters of these mothers are employed, and more than half work full-time, making their schedules especially hard-stretched.
These millions of sandwich generation adults are caring for multiple generations of family members with few or no formal support, leading them to face difficult, if not impossible, decisions and high economic costs.
The price of child care has risen sharply, increasing faster than incomes over the last several decades. Child care prices increased by 210 percent from 1990 to 2019, while the median family income rose by 143 percent during the same period. Research suggests that lower-income families experience these cost pressures more than higher-income families, which means that basic goods and services, including child care, cut into family budgets more today than in the past. In turn, only 57 percent of children under six years old have parents who report that there are good options for child care where they live. And the United States is one of the only countries in the world that does not guarantee paid leave – 95 percent of the lowest wage workers, who are predominately women and workers of color, lack any access to paid family and medical leave. Still, the United States invests fewer public dollars in early childhood education and care relative to gross domestic product (GDP) than almost all developed countries – ranking 35th out of 37 countries tracked by OECD.
The need for high-quality, accessible, and affordable elder care is also increasing. By 2060, there will be nearly 95 million adults over the age of 65, which is almost twice the number of adults over the age of 65 in 2016. People age 65 today are estimated to have an almost 70 percent chance of needing some type of long-term care services in their remaining years, and 20 percent will need care for five or more years.
Meanwhile, there are not enough care workers to provide the care that is needed, in part because care jobs are often not family-sustaining jobs, making it challenging to recruit and retain a high-skilled workforce. Child care workers are among the most underpaid workers – the average pay is only $24,320 a year and nearly half of child care workers rely on public assistance. With low pay, child care workers turn over frequently – national estimates suggest that 26 to 40 percent of the workforce leave their job each year. Similarly, home care workers are extremely underpaid and 40 to 60 percent of home care workers turn over each year – high levels of churn even relative to other low-wage jobs. An analysis conducted in 2017 estimates that there will be a national shortage of 151,000 direct care workers by 2030 and 355,000 workers by 2040.
Limited access to high-quality care leaves many Americans to fill the gap in professional caregiving by providing unpaid care to their loved ones. The disproportionate caregiving burden that women bear makes them more likely to reduce working hours, choose lower-paying jobs, or leave the labor force entirely, all of which contribute to the gender wage gap and reduce family economic security.
To keep the middle-class in reach for millions of Americans and strengthen our economic security, we need to address our caregiving crisis. President Biden’s Build Back Better plan will lower costs both for families with young children and households with elderly members – and for millions of sandwich generation adults.
The President’s Build Back Better plan:
Expands Access to Long-Term Care Services under Medicaid. Families feel the financial impact of caring for aging relatives and family members with disabilities, and there is a financial strain for people with disabilities living independently to ensure that they are getting care in their homes. At the same time, hundreds of thousands of people who need better care are unable to access it, even though they qualify under Medicaid. Aging relatives and people with disabilities deserve high-quality care that meets their unique needs and personal choices. President Biden is calling on Congress to invest billions toward expanding access to quality, affordable home- or community-based services (HCBS).
Cuts costs of child care by more than half for most American families. The President’s plan also enables families to access more convenient, higher quality care where workers receive a better wage and benefits. It fully covers the cost of high-quality child care for young children for the most hard-pressed working families, and ensures that families earning up to 1.5 times their state’s median income will pay no more than seven percent of their income for high-quality child care for all children under age five. In addition to reducing the cost of child care and freeing up money for other spending, providing access to affordable, high-quality child care also increases parents’ incomes, as they continue working and earn more over time.
Offers universal free preschool to all three- and four-year old children. Only about one-fifth of all preschool aged children are enrolled in a preschool program, and free preschool will help offset the costs of child care that families face or help parents providing unpaid caregiving to go back to work. The President is calling for a national-state partnership that offers preschool to all families in the setting of their choice – whether in a school, Head Start, or child care setting. These investments will especially benefit low-income families and families of color, whose children are less likely to be enrolled in preschool.
Lowers Seniors’ Health Care Costs. The Build Back Better plan would reduce health insurance premiums, saving 9 million people an average of $50 per person per month, and add dental, vision, and hearing coverage to Medicare. By closing the Medicaid coverage gap for low-income Americans, the President’s plan would help 4 million people gain coverage. President Biden’s plan will lower prescription drug costs for Americans by letting Medicare negotiate drug prices, so consumers are no longer at the whim of pharmaceutical companies. Lowering these costs will help reduce the burdens families face. Take, for example, a family in Arizona with two parents who together earn $85,000 per year and care for an elderly parent who needs arthritis medicine, which costs $5,500 per year out-of-pocket, and an eye exam to get a new pair of glasses. Prescription drug reform like that outlined in the Build Back Better plan would cap out-of-pocket costs for the elderly parent’s prescription drugs, saving the family $2,400 per year, while new vision benefits under Medicare would pay for the elderly parent’s eye exam and new glasses and lenses.
Creates a National Comprehensive Paid Family and Medical Leave Program. The program will ensure workers receive partial wage replacement to take time to bond with a new child; care for a seriously ill loved one; deal with a loved one’s military deployment; find safety from sexual assault, stalking, or domestic violence; heal from their own serious illness; or take time to deal with the death of a loved one. This program guarantees twelve weeks of annual paid parental, family, and personal illness/safe leave, and also ensures workers get three days of bereavement leave per year, by year 10. The program will provide workers up to $4,000 a month, with a minimum of two-thirds of average weekly wages replaced, rising to 80 percent for the lowest wage workers. A study of California’s paid leave program, which began in 2004, indicated that paid leave also helped to reduce nursing-home utilization: About one in ten person-years spent in nursing homes were prevented by paid leave, likely because the policy gave workers sufficient flexibility to provide informal care to family members on the side.
Boosts compensation of child care and home care workers. The President’s plan would ensure child care and preschool teachers are paid a living wage, one that is comparable to kindergarten teachers if they have similar credentials. The President’s plan to expand HCBS under Medicaid will support well-paying caregiving jobs that include benefits and the ability to collectively bargain. Investment in higher labor standards for care workers improves these jobs and attracts more workers to the care industry.
Significantly Expands the Child Tax Credit. The Build Back Better plan increases the amount of the credit from $2,000 per child to $3,000 per child six-years-old and above, and from $2000 to $3,600 per child for children under six. It also makes 17-year-olds eligible for the first time, and makes the credit fully refundable on a permanent basis, so that low-income families—the families that need the credit the most—can benefit from the full tax credit. For a family with two parents who earn a combined $100,000 per year and have two children under six, the Child Tax Credit expansion means the family’s credit would go from $4,000 total to $7,200 total, an additional $3,200 per year in tax relief. For a family with two parents who earn a combined $24,000 per year and have two children under six, the expansion means even more; they would see roughly $4,400 in additional tax relief because the full credit was not previously available to them.
Provides low- and middle-income families a tax cut based on care expenses. Families would receive a tax credit for up to half of their expenses related to caring for a child under age 13 or a loved one with disabilities. This would extend the dramatic expansion of the Child and Dependent Care Tax Credit (CDCTC) enacted in the American Rescue Plan. With this expanded credit, families earning $125,000 can receive up to a total of $4,000 for one dependent or $8,000 for two or more. And families earning up to $400,000 would get at least as generous of a credit as they receive today.
By Karen Rubin, News & Photo Features, news-photos-features.com
President Joe Biden will use his first speech to the United Nations General Assembly to rally allies, partners and institutions to deal with the major challenges of our time: “COVID-19; climate change; emerging technologies; rules of the road on trade and economics; investments in clean infrastructure; a modern approach to counterterrorism; and vigorous competition with great powers, but not a new Cold War,” said a senior administration official during a press call to preview the President’s speech.
“The speech will drive home the message that ending the war in Afghanistan closed a chapter focused on war and opens a chapter focused on purposeful, effective, intensive American diplomacy defined by working with allies and partners to solve problems that can’t be solved by military force and that require the cooperation of many nations around the world as well as nonstate actors from the private sector and nongovernmental organizations and international institutions,” he said.
These big, hard challenges “will define the scope and shape of prosperity and security for the people of the United States and for people of the world in the years ahead.”
The President “will reinforce the notion that our futures and our fortunes are really interconnected and bound up with one another. And so, we all have to work together to cooperate in service of solving problems and seizing opportunities that lie before us.”
After arriving at Kennedy International Airport, President Biden was to have his first extended one-on-one meeting with the Secretary-General of the United Nations, António Guterres, to discuss issues including Afghanistan and Yemen, as well as big global challenges like COVID-19 and climate change.
At the end of the week, the President will host the first-ever in-person Quad Summit, “a gathering of likeminded, democratic partners to tackle these big challenges — COVID, climate, economic investment, technology.”
He will hold bilateral meetings with Prime Minister Scott Morrison of Australia in New York on Tuesday, followed by a meeting with Prime Minister Boris Johnson of the United Kingdom in the evening in Washington; Prime Minister Narendra Modi of India on Friday, as well as an engagement with Prime Minister Yoshihide Suga of Japan on Friday in Washington.
On Wednesday, President Biden will host a summit on COVID-19 “to rally the world urgently to work towards ending this pandemic as rapidly as possible and building our systems better to be able to handle the next pandemic.
“He believes that it is high time for the world to come together — and not just national leaders, but he’s placing a heavy emphasis on international institutions, the private sector, nongovernmental organizations — all of the actors who collectively have the capacity to beat COVID-19. And he is going to call for an all-hands-on-deck effort that can end this pandemic much more rapidly than if we allow for things to unfold without the kind of focused, sustained energy and effort that is required,” the official said.
The summit will involve setting bold goals to hit on everything from vaccinations to the supply of lifesaving medications and technologies. And it will also set out a pattern of high-level meetings through the coming months to ensure that we are holding ourselves and the world accountable to following through on achieving these goals.
The United States will also have a series of announcements about further contributions above and beyond what has already been contributed to ending the pandemic globally.
Earlier in the day, the Biden administration announced it was easing up restrictions on foreign travel into the United States, by opening access to foreign nationals who have been vaccinated and have had a negative COVID-19 test within three days of travel. In addition, airlines will be required to keep information for contact tracing, should that be necessary. The new, strict protocols will be in place by early November.
“Critically for our European partners and for the UK, this policy means that we will no longer be implementing the current 212(f) travel policies for individual countries as of early November. We’ll be moving to a consistent requirement for all international air travelers coming to the United States.
“But we’re very proud of the fact that we’ve been able to develop a protocol that will permit travel by individuals and families and business people from the E.U. and the UK, as well as from Brazil and India and other countries, to the United States with proof of vaccination.”
Responding to a question about the controversy over the United States selling nuclear submarines to Australia – which angered France –and whether this would be a new precedent for the United States to sell nuclear technology, the official said, “This is a unique set of circumstances involving a unique actor — Australia – which is a model nonproliferation citizen in the world, has incredibly high standards, has a history of proving out its commitment to the Nuclear Non-Proliferation Treaty. It has proven that not just by word but by deed, decade after decade.
“And so, President Biden felt that with the unique case of Australia and then a unique set of safeguards for this material — the highest possible standards of safeguarding the HEU, stewardship of the HEU, consistent with the International Atomic Energy Agency, with the Nuclear Non-Proliferation Treaty, in consultation with the relevant international bodies — that we will be able to show that this is not a broad precedent that opens the doors but rather a very narrow-use case involving the combination of a unique set of circumstances.”
There is no plan to sell such technology to South Korea or any others.
With respect to President Macron, he said, President Biden plans to discuss the way forward, and reinforce his deep commitment to the U.S. alliance with France – “an alliance that has fostered security, stability, and prosperity around the world for decades. The President wants to communicate his desire to work closely with France in the Indo-Pacific and globally, and to talk about specific practical measures that we can undertake together.
“We understand the French position. We don’t share their view, in terms of how this all developed, but we understand their position. And we will continue to be engaged in the coming days on this. And we look forward to the phone call between President Biden and President Macron once its time is fixed on the books. We think that will be an important moment and opportunity for the two leaders to speak directly with one another.”
He countered an assertion that the Afghanistan evacuation and the unilateral decision with Australia warrant criticism that the U.S. is not engaging with its partners and that it’s moving on its own.
“If you look at the most significant challenges, the highest-priority issues facing the world today, you see the United States has been deeply engaged with allies and partners and with the relevant international institutions.
“The President is hosting a summit on COVID-19 on Wednesday where allies, partners, and even competitors have been invited to talk about how we find a collective way forward.
“The United States and the European Union are holding a ministerial-level meeting of the Trade and Technology Council on September 29th. This will be an opportunity to talk about how we shape a common way forward on our economy and on emerging technologies, and it’s an unprecedented vehicle to be able to do that.
“So, when you walk through those significant issues — the depth and richness of the engagement with our allies and partners, the work that we have done with the European Union, the work we have done with Asian allies and partners, the deepening of the Quad as a vital part of the institutional framework of Asia — I think the picture is actually quite positive, despite the differences in perspective on Afghanistan and the issues we are dealing with France right now.”
He said that the US and France can find a productive pathway forward, working together on critical security issues.
“So, if you look at the totality of the Biden foreign policy — of the ways in which we have worked on the big issues and done so very much in coordination, consultation, and common action with allies and partners, and then you look at the months ahead and what’s on the docket and the trajectory that we’re setting for ourselves — the President feels very good about the path forward and about how American foreign policy can play a vital role in rallying the world and especially rallying like-minded democracies to solve the great challenges of our time.”
Hosting the leaders of the Quad fundamentally is a demonstration of the priority Biden’s foreign policy is placing of engaging in the Indo-Pacific, including through new multilateral configurations designed to focus on 21st century challenges, including the COVID-19 pandemic, the climate crisis and clean-energy, partnering on emerging technologies in cyberspace, promoting high-standards infrastructure, and an overarching commitment at the core of the Quad to promoting a free and open Indo-Pacific.
