New York Times: Biden to Lay Down Economic Challenge to House Republicans

Original Article

President Biden will deliver his first State of the Union address since losing control of the House to the Republican majority. The speech will challenge the Republicans to raise taxes on the wealthy, provide more social aid to the needy, and not cut Social Security and Medicare. He will ask for lawmakers from both parties to support his economic agenda.

White House officials say that the president will highlight recent economic gains, such as falling inflation and strong job growth, and take credit for legislation aimed at lowering prescription drug prices, expanding veterans’ health benefits, investing in climate change programs, and rebuilding infrastructure.

The speech will take place in a divided government, with Republicans in control of the House and the president preparing for re-election.

The president’s guests at the address will include cancer survivors, business owners, students, and a Holocaust survivor, among others. The speech will also propose extending a $35 price cap on insulin, making premium savings in the Affordable Care Act permanent, adding a minimum tax on billionaires, and quadrupling the tax on corporate stock buybacks.

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