What Did Joe Biden Do Today?
March 11 Recap
The President's Budget for Fiscal Year 2025 emphasizes the Biden Administration's commitment to progress, with a vision focusing on lowering costs for Americans, strengthening social security and Medicare, investing in the nation and its people, and reducing the deficit. Since the inauguration, the administration has seen significant economic achievements, including the addition of approximately 15 million jobs and a reduction in the unemployment rate to below 4% for two consecutive years, marking a record in over 50 years. Inflation has decreased significantly, and efforts to reduce costs for everyday Americans continue, targeting prescription drug costs, health insurance premiums, utility bills, and everyday goods and services.
Key initiatives include lowering drug prices, expanding access to prescription drugs, cutting taxes for families and workers, reducing childcare and housing costs, expanding access to homeownership, reducing the cost of college, and lowering healthcare costs. The budget also focuses on protecting and strengthening Social Security and Medicare without cutting benefits and ensuring the solvency of Medicare's trust fund.
To address the deficit, the administration proposes savings through tax fairness, including a minimum tax for billionaires and increased tax rates for large corporations. It will also invest in America's workforce, confront the climate crisis, support healthcare, and prioritize veterans' services.
The budget contrasts with Congressional Republicans' proposals, emphasizing fiscal responsibility, equity, and support for working families. It aims to make significant investments in healthcare, education, infrastructure, and climate initiatives, alongside efforts to ensure national security, combat narcotics trafficking, and support international allies.
Key initiatives include:
Implementing major tax code reforms for individuals and corporations to ensure equitable tax contributions.
Cutting wasteful spending on Big Pharma by expanding the pace of Medicare drug price negotiations and increasing the Medicaid Drug Rebate Program.
Eliminating unnecessary corporate subsidies and special tax treatments, particularly for oil and gas investments, and closing loopholes in real estate and other sectors.
Enhancing prevention and treatment options for health conditions to reduce costs and enforce repayment by insurers profiting excessively from Medicaid.
Intensifying efforts against systemic fraud, identity theft, and tax evasion, particularly targeting the wealthy and large corporations, alongside improving program integrity and oversight.
Proposing legislative and funding measures to combat unemployment insurance fraud, modernize systems, and invest in fraud prevention.
Adjusting penalties for employers violating labor laws, thereby ensuring worker rights.
Ending tax benefits for certain financial transactions, including carried interest loopholes, cryptocurrency transactions, and life insurance-related tax shelters.
Implementing reforms to make programs more efficient and cost-effective, such as extending spectrum auctions and consolidating programs to eliminate redundancy and inefficiency.
The Budget anticipates reducing the deficit by approximately $3 trillion over the next decade, emphasizing fiscal responsibility while protecting and investing in critical services and programs for the American populace. This approach contrasts with Congressional Republicans' proposals, which the Budget criticizes for favoring special interests and proposing cuts to essential services.
The White House released a fact sheet highlighting the President's budget proposals to confront global challenges and defend democracy. Under President Biden's administration, there's a focus on restoring U.S. leadership globally, supporting Ukraine against Russian aggression, bolstering NATO, supporting Israel while providing humanitarian aid to Palestinians, and strategizing against China's rise. The budget includes:
Support for Ukraine and Allies: Continued support for Ukraine, NATO, and European partners to enhance their military capabilities against Russian aggression, including funding for the European Bank for Reconstruction and Development.
Emergency Funding Request: An emergency request to Congress for $92 billion for national security needs, including support for Ukraine, Israel, the Indo-Pacific, and investment in the U.S. defense industrial base.
Military Readiness and Support: A focus on ensuring U.S. forces are well-equipped and trained, with investments in the submarine industrial base, nuclear deterrence, and combating cyber threats.
Countering China: Initiatives to promote economic growth and quality international infrastructure through the Partnership for Global Infrastructure and Investment and focusing on deterrence in the Indo-Pacific.
Global Health and Humanitarian Assistance: Nearly $10 billion for global health programs and $10.3 billion in humanitarian assistance to address global challenges, including food insecurity and pandemic preparedness.
Climate Change and Development: Commitments to international climate finance, sustainable development, gender equity, and democracy promotion, including a $11 billion pledge for climate finance.
The budget emphasizes strategic competition, particularly with China, enhancing U.S. military readiness, supporting global democracy, and addressing critical global issues like health, humanitarian needs, and climate change.
President Biden praised outgoing HUD Secretary Marcia L. Fudge for her contributions to housing in the United States, highlighting her understanding of the importance of a fair housing market and affordable housing as crucial to achieving the American dream. He noted the challenges the housing system inherited from the previous administration and commended Secretary Fudge for her efforts in rebuilding the Department of Housing and Urban Development. Under her leadership, the administration has aimed to lower housing costs, increase supply, propose significant investments in affordable housing, combat racial discrimination, and support first-time homebuyers. The President acknowledged Fudge's previous roles and passion for economic opportunity, thanking her for her work towards creating a housing system that benefits all Americans and wishing her well in her future endeavors.
The White House released a statement on the American Rescue Plan’s (ARP) accomplishments and successes over the past three years, implemented during President Biden's tenure. It significantly influenced the United States' economic and social recovery from the impacts of COVID-19, marking several milestones across various sectors:
Historic Employment Recovery: Since President Biden took office, the ARP has fueled the creation of 15 million jobs, reducing unemployment to below 4% for 25 consecutive months—a record not seen in over five decades. This recovery not only regained lost jobs but added an extra 5.5 million, making it the most robust recovery in the world.
Equitable Economic Growth: The ARP has led to unprecedented drops in unemployment among Black and Latino workers, reaching historic lows. It also contributed to a significant reduction in wage inequality, with middle and lower-income workers seeing wage increases that counteracted decades of rising wage inequality.
Healthcare Expansion: Through enhancements to the Affordable Care Act (ACA), the ARP has enabled over 21 million Americans to enroll in healthcare coverage, with significant savings on premiums. It also expanded Medicaid, providing coverage to an additional million people.
Support for Small Businesses and Startups: The ARP has facilitated a small business boom, with 16 million new business applications over the past three years. This includes substantial support for minority and women-owned businesses, alongside significant funding for programs aimed at helping small businesses recover and grow.
Child Poverty Reduction: By expanding the Child Tax Credit, the ARP has dramatically reduced child poverty rates to historic lows across all demographics, benefiting millions of children nationwide.
Comprehensive Vaccination Campaign: With an investment of $160 billion, the ARP has supported vaccination efforts, therapeutics, and the broader COVID-19 response, significantly advancing public health and safety.
Prevention of Evictions and Homelessness: The plan has provided emergency rental assistance to millions, keeping eviction filings well below historical averages and significantly investing in homelessness prevention and housing stability.
Education and Child Care Support: The ARP has delivered critical funding to school districts and child care providers, enabling safe reopenings, academic recovery, and substantial investments in mental health resources. It has also directly supported millions of college students with financial assistance.
Workforce Development and Training: Investments from the ARP have been channeled into workforce training and development, supporting new infrastructure, healthcare, and care jobs and facilitating a connection between American workers and good job opportunities.
Infrastructure and Community Investments: The ARP has provided direct fiscal relief to every level of local government, allowing for investments in public safety, housing, broadband access, and water infrastructure, with a significant focus on rural and tribal communities.
In summary, the American Rescue Plan has played a pivotal role in fostering a strong, equitable recovery from the pandemic, with widespread effects on employment, healthcare, small business support, child poverty reduction, housing stability, and educational support. It marks a historic investment in America's future.
In his remarks at the National League of Cities Congressional City Conference in Washington, D.C., President Biden emphasized the importance of local government in addressing the needs of communities across the United States. He highlighted his start in local government and the challenges and accountability that come with it. He celebrated the League's 100th anniversary and reflected on its history of helping cities and towns adapt and thrive.
Biden discussed his administration's efforts to support local governments, including the American Rescue Plan, which provided $350 billion to state and local governments for flexible use, and significant investments in infrastructure, aiming to modernize the nation's roads, bridges, ports, airports, and public transit. He mentioned the bipartisan efforts to rebuild and enhance infrastructure, ensuring clean drinking water, expanding high-speed internet access, and tackling climate change through resilience and clean energy initiatives.
The President also covered economic achievements, including job creation and investment in American manufacturing, particularly in the semiconductor industry, aiming to bring jobs back to America. He addressed housing affordability, proposing tax cuts and financial support to increase housing availability and combat homelessness.
On public safety, President Biden highlighted investments from the American Rescue Plan in community policing and violence intervention programs, noting a nationwide decrease in violent crime rates. He also discussed the need for comprehensive border security reform, urging Congress to pass a bipartisan bill to enhance border security and manage immigration more effectively.
The President praised the trust placed in local governments, allowing them to decide on using funds, which facilitated vital community services such as vaccinations, essential services, public safety, and keeping small businesses afloat. He also touched on the contribution of the American Rescue Plan to reducing violent crime through funding for public safety and community policing. Additionally, Biden discussed efforts to make housing more affordable, including a proposed tax credit for first-time homebuyers and plans for more affordable housing in his budget proposal.
President Biden also urged Congress to pass the bipartisan border policy bill. He referenced a drop in violent crime rates and an analysis from the Treasury Department that documented the allocation of funds for thousands of projects, demonstrating the broad and positive impact of the American Rescue Plan on communities across the nation.
President Biden concluded with an optimistic view of America's future, stressing the country's capacity to achieve great things through collaboration and unity. He called for continued partnership between all levels of government to address the nation's challenges and opportunities.
Additional Source: Spectrum News
President Biden issued a Sequestration Order for the Fiscal Year 2025 under the authority granted by U.S. law and pursuant to section 251A of the Balanced Budget and Emergency Deficit Control Act, as amended. It orders that starting October 1, 2024, direct spending budgetary resources for the fiscal year 2025 in each non-exempt budget account be reduced by amounts calculated by the Office of Management and Budget (OMB) in its report to Congress on March 11, 2024. The sequestrations must follow the requirements of section 251A of the Act and the specifics of the OMB's March 11, 2024 report, prepared according to section 251A(9) of the Act.
President Biden issued a proclamation on National Equal Pay Day, observed on March 12, 2024, to recognize and address the gender wage gap that persists, highlighting the distance we still have to go to achieve wage equality between men and women. It emphasizes the fundamental American values of equality, dignity, and fairness and the importance of equal pay not just for the benefit of women but for the prosperity of the entire nation. Despite significant progress, including the highest women's labor force participation in decades and the narrowest gender pay gap on record, women, on average, still earn only 84 cents for every dollar earned by men, with even wider disparities affecting women of color and those with disabilities. The proclamation points to systemic barriers and caregiving responsibilities as contributing factors to the pay gap.
In response, the Biden Administration has initiated several measures to support working families and ensure women's access to good-paying jobs, including billions in investments through the American Rescue Plan, infrastructure and technology acts, and efforts to make the federal government a model employer with actions aimed at closing wage gaps. The administration has also pushed for legislation to increase pay transparency and combat pay discrimination, including the Paycheck Fairness Act. The proclamation calls on all Americans to acknowledge wage inequality and work towards achieving equal pay, reinforcing the nation's commitment to equal opportunity and fairness for all citizens.
Principal Deputy Press Secretary Olivia Dalton held a press gaggle on Air Force One en route to Manchester, New Hampshire, covering several key topics:
Budget and Values: Dalton began by highlighting President Biden's budget, emphasizing its focus on fairness, deficit reduction, and strengthening social programs. She contrasted this with the Republican stance, which she described as favoring tax cuts for the wealthy and corporations while proposing cuts to critical programs.
Healthcare Costs: The administration's efforts to lower healthcare costs through the Inflation Reduction Act were detailed, including measures like capping insulin prices and expanding Affordable Care Act coverage. Biden's future plans to further reduce healthcare costs were also mentioned.
Secretary Marcia Fudge's Departure: Dalton acknowledged the contributions of Secretary of Housing and Urban Development Marcia Fudge, mentioning her efforts in homeownership, housing supply, and fighting discrimination in the housing market. The administration's commitment to affordable housing continues to be a priority.
Israel and Prime Minister Netanyahu: Dalton addressed the President's relationship with Netanyahu, emphasizing the constructive nature of their long-standing relationship despite recent tensions. She reiterated the U.S.'s position on Israel's right to self-defense, the need for a ceasefire in Gaza, and the importance of reducing civilian casualties.
Other Topics: Various questions were addressed, including potential replacements for Secretary Fudge, Biden's plans to watch a House Judiciary hearing, the administration's stance on a Ramadan event, and future engagements with international leaders.
Economic and Domestic Policy: Dalton discussed Biden's focus on economic recovery, healthcare, and democracy, indicating these are core to his administration's agenda. The discussion included Biden's efforts to communicate his policies nationwide and the political landscape leading into the election year.
Personal Note: Dalton concluded by announcing her departure from the White House, reflecting on her experience and the importance of the press briefing tradition in democracy.
In a speech in Goffstown, NH, President Biden discussed efforts to lower healthcare costs for American families, emphasizing the administration's commitment to fairness and affordability in healthcare. He highlighted the Inflation Reduction Act, which capped prescription drug costs for seniors on Medicare at $2,000 annually, and his intention to extend similar benefits to all Americans. President Biden noted the unfairness of drug prices in the U.S. compared to other countries and announced Medicare's new authority to negotiate lower drug prices, expected to save taxpayers billions.
The President also addressed the reduction of insulin costs for diabetics to $35 per month, the aim to make healthcare more accessible through the Affordable Care Act, and his opposition to any cuts to Social Security or Medicare. He criticized the previous administration's tax cuts for the wealthy and proposed a fairer tax code to support healthcare and other national priorities. Biden expressed optimism about overcoming challenges through unity and reiterated his commitment to not increase taxes for those making under $400,000 annually.
The speech also touched on the administration's achievements in reducing the federal deficit, stopping surprise medical billing, and fighting for a healthcare system that treats healthcare as a right, not a privilege. Biden concluded with a call for continued support for his policies to ensure a fair and equitable future for all Americans, emphasizing the nation's resilience and capacity for recovery.
President Biden takes the stage at the National League of Cities conference in Washington, DC
