President Joe Biden heads to Maryland on Wednesday trying to keep the focus on Republicans’ legislative agenda after capitalizing on a viral moment over the future of Social Security and Medicare at last week’s State of the Union.
Biden is set to use his afternoon speech to further lean into his efforts to contrast his plans with Republicans’ agenda, focusing particularly on the GOP-endorsed legislation that the administration argues would constitute “a massive giveaway to the super-rich, big corporations, and Big Pharma.”
At the speech taking place at the International Brotherhood of Electrical Workers (IBEW) Local Union 26, the president will assert that his upcoming budget will cut the deficit by trillions of dollars over 10 years, according to prepared remarks.
“If you add up all the proposals that my Republican friends in Congress have offered so far, they would add another $3 trillion to the debt over 10 years,” Biden will claim, according to the prepared remarks.
“When I introduce my budget in a few weeks, you’ll see that people making less than $400,000 a year will not see a single penny increase in taxes, nor have they for the past two years,” he’s expected to say. “You’ll see that my budget will invest in America, lower costs and protect and strengthen Social Security and Medicare, while cutting the deficit by $2 trillion over 10 years.”
In a fact sheet shared with CNN Tuesday, a senior administration official pointed to a series of efforts from of the Republican-controlled House of Representatives, which they said could lead to increasing the debt as a share of the economy “by almost 10 percentage points.” Those bills include H.R.23, the Family and Small Business Taxpayer Protection Act – which the White House called the “Tax Cheats Protection Act” – that the administration estimates would increase the deficit…
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