Global Courant
WASHINGTON — President Joe Biden touted his economic agenda in a speech in South Carolina on Thursday afternoon, touting his administration’s investment in the country through what he called “Bidenomics” and emphasizing the importance of infrastructure.
“How can you have the best economy in the world and not the best infrastructure in the world?” said Biden.
He added that under its predecessor, infrastructure week became a “punchline”.
“Under my watch, we are making infrastructure headlines for a decade,” Biden said.
In South Carolina, Biden discussed jobs created by a partnership between Enphase energy, a supplier of solar energy equipment, and Flex, a manufacturer. Enphase has announced that it is investing more than $60 million to open six production lines in the United States, which is expected to create up to 1,800 jobs; two of those new lines will be in South Carolina, with the potential to add up to 600 jobs between Enphase and Flex, the White House said.
Companies have “committed more than $500 billion to manufacturing and clean energy investments in the United States” since the start of Biden’s tenure. The White House said in a press release on Wednesday.
Bidenics is “rooted in what has always worked best for this country: investing in America,” Biden said. “Because when you invest in our people, when you strengthen the middle class, we see stronger economic growth that benefits everyone.”
The speech, at the Flex facility in Western Columbia, comes as government officials tour the country this week highlighting the Biden administration’s investments in the country as part of the president’s economic plan.
“I’m not here to declare the economy’s victory,” Biden said. “I’m here to say we have a plan that will change things quickly.”
“You’re not done hearing about Bidenomics,” LaBolt said in a statement before the speech. “Following his major speech in Chicago, the president, vice president, cabinet members and senior government officials will continue this week with a full press coverage of Bidenomics – to highlight how the president’s economic plan invests in America and increases competition to lower costs for hardworking families.”
The president recently attributed job growth and reductions in inflation to legislation passed during his term, including an infrastructure package and a major climate, health care and tax bill called the Inflation Reduction Act, which the White House say has mobilized companies like Enphase Energy to launch clean energy manufacturing operations in the US
The White House has described Bidenomics as a three-pillar plan that focuses on public investment, training workers and promoting competition as a way to reduce costs. The Biden administration often characterizes the plan as building the economy “from the middle and bottom up,” rather than through trickle-down economics.
But the phrase “Bidenomics” has become a target for conservative politicians, some of whom have used it as a catchall term for economic woes.
“Bidenomics is when you try to drive small businesses out of business, drive inflation to a 40-year high while driving up interest rates to make capital inaccessible to Main Street,” reads a graphic tweeted by the GOP-controlled House Small Business Committee.
“Bidenomics drove record-breaking inflation and destroyed people’s savings,” said GOP presidential candidate Nikki Haley tweeted Thursday morning.
As part of the administration’s push to highlight Biden’s economic policies on Thursday, Secretary of the Interior Deb Haaland planned to be in New York to highlight clean energy efforts, Secretary of State Deb Haaland said. of Health and Human Services Xavier Becerra went to Ohio to emphasize efforts to reduce health care costs, and Small Business Administration Chief Isabella Guzman traveled to California to talk about starting small businesses, an official at the National Health Service said. White House. Government officials have scheduled more events for Friday in Vermont, Michigan, Washington and New Mexico.
Biden touted his economic agenda in a speech in Chicago last week.
“Bidenomics is about the future,” he said. “Bidenomics is just another way of saying, ‘Restore the American Dream because it worked before.'”
Molly Roecker contributed.
