President Joe Biden requests Congress to pass his economic plans following weak job reports

 

On Friday, CNBC reported that President Joe Biden asked Congress to pass his over $4 trillion economic plans as job growth was slow and the number of jobs added had declined well below the numbers estimated by economists. The Labor Department reported that 235,000 jobs were added in August while economists had expected 720,000 jobs to be added.

 

President Biden also said that the delta variant and the reluctance of many Americans to get vaccinated had dulled the economy and the nation needed a boost and that could be obtained after these plans were passed. He said that the country needed economic plans that could deal with the recent power disaster in New Orleans and the transit disaster in New York City.

 

President Biden said that the nation needed these investments and that he was not asking for anything other than some “fairness” to be injected into the system. He mentioned that these proposals were not “short-term stimulus” but had been designed to generate “long-term prosperity.”

 

On Friday, CNBC reported Biden also said that tax increases on the wealthy and corporations were a means by which a fairer economy could be created. Once again, he reiterated that those who earn below $400,000 would not face higher taxes.

 

He addressed big corporations directly and told them that his message was that it was time to change, and it was time for working families, “the folks who built this country” to have their taxes cut. He added that corporate interests were doing everything they could to find allies in Congress to keep it from happening, but he said that he was “going to take them on.”

 

On Thursday, Joe Manchin, the Democrat from West Virginia, delayed his party’s plans to approve the $3.5 trillion budget reconciliation bill citing inflation and long-term debt as reasons to “pause” the bill.

 

After Manchin put forth his position, Senate Budget Committee Chairman, Bernie Sanders Independent from Vermont tweeted “No infrastructure bill without the $3.5 trillion reconciliation bill.”

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