By Camerron Martin
On Tuesday, Feb. 7, 2023, President Biden gave his State of the Union speech. Taking the podium in the United States House of Representatives at around 9:00 p.m. EST, President Biden had the following things to say.
President Biden began by congratulating members of the 118th Congress and other various members of the government. He then shifted to a conversation about America and how we are a unique country that has come back stronger from almost everything it has ever faced, including a crisis from which we are now coming back.
The crisis in question is the COVID-19 pandemic, which took a solid negative toll on our economy and crippled our nation. President Biden stated that since then, his administration had created 12 million new jobs and that we have reached a point where COVID no longer controls our lives.
From there, President Biden began discussing what America’s future could be and how the laws he has signed into effect can help build this proposed future. Biden stated that America is a land of possibilities and invited Democrats and Republicans to unite as they have done over the last two years to reinforce our country by building fundamental infrastructure nationwide.
Biden discussed how many American factories shut down as manufacturing moved overseas, which affected the middle class. President Biden recalls that his reasoning for running for the presidential election was to change how our systems work and make the economy beneficial for every citizen, regardless of class. President Biden said the unemployment rate is at 3.4%, making it a 50-year low alongside a near-record low unemployment rate for Black and Hispanic individuals.
President Biden then enforces the idea of moving manufacturing back into America and buying America. Acknowledging the passing of his bipartisan CHIPS and Science Act, which creates the opportunity for America to grow as a producer of semiconductors back towards what it once was. The act would also aid in lowering prices for vehicles, appliances, etc.
Through another law passed by President Biden, America’s infrastructure has begun to heal as we grow back through the ranks worldwide. The bipartisan Infrastructure Law, credited as the most significant investment in our country’s infrastructure since Eisenhower’s Highway Interstate Highway System, has already funded 20,000 projects to rebuild many infrastructures across the United States.
President Biden also aimed to tackle the costs of prescription drugs and ensure that seniors on Medicare and Social Security shouldn’t have to worry about paying outrageous amounts of money for necessary prescriptions. He also announced that he would refuse to cut anyone from Social Security and Medicare benefits through his plans.
With the Inflation Reduction Act, President Biden stated that companies like Big Pharma would no longer be able to charge what they have been demanding for years and that insulin costs be capped at $35 a month for those on Medicare. He also calls for changes that would make the $35 cap on insulin permanent and available to everyone.
President Biden also stated the Inflation Reduction Act would lead to a clean energy future. Allowing for lower utility bills and creating more jobs to begin working on new electrical grids that can withstand more and stay operational longer to generate cleaner energy and cut pollution to battle the climate crisis.
President Biden stated that billionaires and Fortune 500 companies need to invest in this future for the benefit of America and that they will now have to pay 15% of their profits into taxes. Nobody making under $400,000 a year will have to pay more taxes to compensate. President Biden proposed that the tax on corporate stock buybacks quadruple to prevent these billionaires from racking in more money.
The speech also covers the Junk Fee Prevention Act proposal, which President Biden states will prevent Americans from being charged “junk fees” by companies. Airline tickets, overdraft fees, credit card late fees, and more will no longer cost people as much as they have.
President Biden also proposed the PRO Act, allowing more workers to form a union. Restoring the Child Tax Credit gives many parents more financial breathing room. The call for Congress to help secure America’s borders and keep the country safe from foreign threats.
President Biden ended his speech by stating that we, as Americans are not bystanders to history and are not powerless against the forces we face. We must unite and face our problems as one nation, and God created everyone in an equal image. He remained optimistic about our future, stating that nothing is beyond our ability to accomplish as long as we do it together.
