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In ‘Buy American’ Speech, Biden Challenges Trump on the Economy

  • July 09, 2020

The Pennsylvania speech is the first of several steps Mr. Biden is taking in the coming weeks to detail an expanded economic agenda, beyond what he proposed in the primaries. On Thursday, Mr. Biden specifically proposed a $300 billion increase in government spending on research and development of technologies like electric vehicles and 5G cellular networks, as well as an additional $400 billion in federal procurement spending on products that are manufactured in the United States.

Mr. Biden’s campaign is rallying top surrogates in key battleground states to amplify and showcase his economic message on Friday: Senator Amy Klobuchar of Minnesota will hold a roundtable discussion aimed at Arizona voters, Senators Tammy Duckworth and Tammy Baldwin will do one for Wisconsin, Gov. Gretchen Whitmer of Michigan will headline one for her state and Senator Sherrod Brown of Ohio will hold one for his state.

As Mr. Trump has increasingly focused his campaign on stoking white resentment and fears, Mr. Biden and his campaign have emphasized their efforts to increase opportunities for Black, Latino, Asian-American and other workers in cities, suburbs and rural areas. “An economy for every American,” Mr. Biden said on Thursday.

“Donald Trump may believe that pitting Americans against Americans may benefit him. I don’t,” he said.

Aides also said that Mr. Biden, the former vice president, would propose additional deficit spending next year to help the economy recover from the recession caused by the pandemic, building on the more than $3 trillion in new borrowing that Congress and Mr. Trump have already approved amid the crisis.

Mr. Biden has thus far proposed to offset the entirety of his spending plans with nearly $4 trillion in tax increases, largely by reversing some of Mr. Trump’s signature tax cuts for high earners and otherwise raising taxes on the wealthy and corporations. Aides said he would do the same to fund his procurement and research plans.

Mr. Biden proposed the smallest amount of new federal spending among the major Democratic contenders during the presidential primary race, and his plan, despite its new spending, remains far less expensive than those proposed by his former rivals, like Mr. Sanders of Vermont and Senator Elizabeth Warren of Massachusetts.

Article source: https://www.nytimes.com/2020/07/09/us/politics/biden-buy-american.html

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