In the State of the Union address to Congress and the nation, President Joe Biden emphasized many topics he and his administration are looking to correct.
He began with the war between Ukraine and Russia.
“Ukraine can stop Putin if we stand with Ukraine and provide the weapons that it needs to defend itself,” stated Biden. “They are not asking for American soldiers; in fact, there are no American soldiers in Ukraine, and I intend to keep it that way.”
Biden also mentioned the addition of Sweden to the North Atlantic Treaty Organization and complemented their fighting skills with Swedish officials in attendance.
Biden then expressed his mission to focus on two critical issues for American citizens: restoring reproductive freedom and rebuilding the economy in the wake of the COVID-19 pandemic.
Manufacturing is the future
After taking office, Biden introduced the Chips and Science Act, which will help create microchip factories in the United States. These are the brains of computers, phones and many other technological devices.
“Now, instead of importing foreign products and exporting American jobs, we are exporting American products and creating American jobs,” said Biden. “Right here in America, where they belong.”
New tax breaks
Biden also mentioned his support of the Affordable Care Act, which has helped reduce medical costs for Americans and offers a tax break of up to $800. He provided information about housing tax breaks that will help Americans save money.
“I want to provide an annual tax credit that will give Americans $400 a month for the next two years as mortgage rates come down to put towards mortgages when they buy their new home or trade up for a little more space,” Biden stated. “And my administration is also eliminating title insurance on federally backed mortgages. When you refinance your home, you can save $1,000 or more as a consequence.”
Biden addressed renters who break antitrust laws and raise their tenants’ prices, claiming that he and his administration had “cut the red tape” for builders, and stated, “It is already helping build 1.7 million new housing units nationwide.” This is to lower the cost of rent prices, which have skyrocketed since 2020.
Student loan debt has been another pillar of Biden’s ballot. Along with making college more affordable, he aims to create more Pell Grants for middle-class families, minority-serving institutions and historically Black colleges and universities.
“Such relief is good for the economy because folks are now able to buy a home, start a business and start a family,” said Biden. “And while we’re at it, I want the public school teachers a raise.”
Biden intends to cut the national deficit, which is possible if his plan to increase taxes on big corporations to 28% is passed. The minimum corporate tax rate would become 21%. He also wants to increase the taxes for millionaires from 8.2% to a minimum of 25%, which could raise $500 billion for America over the next 10 years.
“I’m a capitalist. If you want to make millions of bucks, that’s great,” stated Biden. “Just pay your fair share in taxes. A fair tax code is how we invest things to make this country great.”
Junk fees and price gouging
Biden offered options to stop price gouging in the housing, healthcare and food industries. Sen. Bob Casey of Pennsylvania created the Price Gouging Act, which Biden encouraged Congress to pass during the address. It aims to stop food companies from decreasing the quantity of their items while increasing the prices.
Biden referred to “junk fees,” which are late fees charged by credit card companies. His goal is to limit late payments, which previously cost consumers up to $32, to $8. He claims it would help American families save $20 billion annually.
National security
Since banding with Texas, many states have expressed interest in protecting the border. However, Biden claimed that enacting his bill would help protect the southern border and asked Congress to pass it.
“That bipartisan will hire 1,500 security agents and officers, 100 more immigration judges to tackle the backload of two million cases, 4,300 more asylum officers and new policies so they can resolve cases in six months instead of six years,” Biden said. He then referred to conservatives who, while in favor of the bill, are not supporters of the Ukraine money allocation. “What are you against? One hundred new drug-detection machines to significantly increase the ability to screen and stop vehicles smuggling fentanyl into America that is killing children?”
This bill will also give Biden or a future president the ability to close the border when the number of migrants is overwhelming.
Biden spoke about voter rights and emphasized the need to pass the Freedom to Vote Act and the John Lewis Voting Rights Advancement Act.
Ultimately, time will tell if any of these proposed tax breaks, bipartisan bills and acts will be passed and put into effect.
Author: Chevy Blackburn
Photo courtesy of Shawn Thew/The Associated Press
Editor: Anna Mower
news@suunews.net
