The Biden-Harris Administration continued to take the message of Bidenomics directly to the American people this week—fanning out across the country as part of the Investing in America tour to highlight how the President's plan is growing the economy from the middle out and bottom up, not the top down. This week also brought new and encouraging evidence that inflation is falling while our economy remains strong. Annual inflation has now fallen for 12 consecutive months and is down to 3%—the lowest level in more than two years. More jobs and lower costs—that's Bidenomics in action.
Bidenomics On the Road
On Saturday, Senior Advisor Mitch Landrieu finished up a multi-day swing in El Paso, Texas, highlighting how the Bipartisan Infrastructure Law is funding high-speed internet, home electrification, transit, and ports of entry across New Mexico and south Texas.
On Monday, SBA Administrator Isabel Guzman kicked-off a multi-state swing with a stop in Rhode Island to highlight how Bidenomics has led to record small business starts. Department of Interior Secretary Deb Haaland was in Kansas to highlight how the Bipartisan Infrastructure Law is providing historic funding to clean up orphan wells and conserve our natural resources.
On Wednesday, the First Lady joined the launch for the Investing in America Workforce Hub in Columbus, Ohio to highlight how Bidenomics is delivering investments and jobs to communities across the country. Department of Energy Secretary Jennifer Granholm visited New Orleans, Louisiana to highlight efforts by the Biden Administration to lower energy costs. And Lael Brainard, Director of the National Economic Council, delivered remarks at the Economic Club of New York on Bidenomics and how the US economy is "defying expectations."
On Thursday, the First Lady delivered remarks at the National Governors Association (NGA) Summer Meeting in Atlantic City, New Jersey to highlight the importance of investing in workforce training programs that are preparing high school and community college students for good-paying jobs created by the President's Investing in America agenda.
On Friday, Vice President Harris and EPA Administrator Michael Regan concluded the Investing in America tour with a stop in Maryland to announce a $20 billion program from the Inflation Reduction Act that that will massively expand investment in new projects that reduce pollution across the country and build a clean energy economy.
Bidenomics In the News
KTSM (NBC) 9 News: Escobar, senior adviser to President Biden discuss El Paso's Bipartisan Infrastructure Law funding
[Luisa Barrios, 7/8/23] – Texas
U.S. Rep. Veronica Escobar, D-Texas, hosted a press conference Saturday morning, July 8, with Senior Adviser to President Biden and White House Infrastructure Coordinator Mitch Landrieu and local leadership to discuss Landrieu's visit to El Paso. During the visit, Landrieu toured the Bridge of the Americas, FAA air traffic control tower and the El Paso International Airport's main terminal. He also met with local leaders and stakeholders, according to a press release sent by Escobar's office. "President Biden's Investing in America Agenda is delivering on rebuilding our infrastructure – from roads and bridges to ports and airports and everything in between – and that's central to Bidenomics," Landrieu said.
Los Alamos Daily Post: Sen. Luján Welcomes White House Senior Advisor Mitch Landrieu To Highlight New Mexico Investments
[Carol Clark, 7/9/23]
This week, U.S. Sen. Ben Ray Luján (D-N.M.) welcomed White House Senior Advisor Mitch Landrieu to New Mexico to highlight historic investments from the Bipartisan Infrastructure Law and the Inflation Reduction Act…Luján and Senior Advisor Landrieu then joined Gov. Michelle Lujan Grisham to highlight the $675 million award from the Bipartisan Infrastructure Law's Broadband Equity, Access, and Deployment (BEAD) Program to expand high-speed internet access in New Mexico. Senator Luján and Heinrich, Senior Advisor Landrieu, and U.S. Rep. Teresa Leger Fernández (D-N.M.) joined Santo Domingo Pueblo leadership to highlight $12.7 million through the Tribal Broadband Connectivity Program, made possible by President Biden's Investing in America agenda.
The Kansas City Star: Biden cabinet official Haaland visits Kansas as White House promotes economic record
[Jonathan Shorman, 7/10/23]
U.S. Secretary of the Interior Deb Haaland and Rep. Sharice Davids on Monday toured abandoned gas wells in Johnson County, where they announced an additional round of federal funding, included in the 2021 bipartisan infrastructure law, to help plug thousands of environmentally troublesome wells across Kansas. The visit by the cabinet secretary was an exclamation point amid a drumbeat of announcements in recent months by Democratic officials of spending in the Kansas City area fueled by federal funds approved by Congress – and a national push by the White House to highlight President Joe Biden's economic record.
Newsweek: Joe Biden's Economic Plan Is Winning Over Americans
[Darragh Roche, 7/10/23]
President Joe Biden's economic plans are winning over Americans, according to new polling conducted for Newsweek that asked eligible voters about their views on "Bidenomics. The Redfield & Wilton Strategies poll carried out on behalf of Newsweek found that 47 percent of respondents said they supported Bidenomics, following the president's speech defining the term in Chicago.
La W Radio: Government Biden managed to lower unemployment for Latinos in the US to record numbers
[Juan Esteban Silva, 7/11/12]
The Biden Government highlights that it achieved the lowest Latino unemployment rate recorded in history. In addition to this, the achievements are: the largest decrease in a single calendar year in Latino unemployment, a record rate of unemployment among Latino teens, an increase in the enrollment of Latinos in HealthCare.gov coverage by 900,000, or 53% , from 2020 to 2022., reduction of the Latino child poverty rate by more than 7%, impacting more than 300,000 children, through the Thrifty Food Plan.
Ithaca Journal: Menlo Micro Sites $50M fab facility near Ithica in Tompkins Country
[Chris Potter, 7/11/23]
The CHIPS and Science Act, passed in August 2022, included provisions that encourage companies to reshore critical tech manufacturing operations to the U.S. Garcia, Menlo Micro's CEO, said the fab modernization project aligns with the Biden Administration's push to bring semiconductor manufacturing to American soil. "Today's announcement represents the first step toward significantly increasing the domestic production capacity of our Ideal Switch to help secure critical infrastructure and further strengthen America's technology stronghold," said Garcia.
Marie Claire: Vice President Harris Announces New Rules to Lower Childcare Costs
[Emily Tisch Sussman, 7/12/23]
The pandemic decimated an already-struggling childcare industry—an industry that saw 90,000 fewer workers between 2020 and 2022. With half of Americans living in childcare deserts and the cost of childcare continuing to increase, the Biden administration has made affordable, accessible childcare a critical part of the "Bidenomics" plan. […]
EFE: The Biden government affirms that the lowest unemployment rate was reached among the Latino population in June
[LatinUS, 7/12/23]
The White House reported in a statement that President Joe Biden's economic agenda, dubbed "Bidenomics", also claimed to have also achieved the lowest unemployment rate among Latinos between the ages of 16 and 19, which according to the BLS reached 14.5% in June. "Although our work is not finished, 'Bidenomics' is already delivering results for Americans, including Latinos," added the White House, which also congratulated itself on having reduced the Latino child poverty rate by more than 7% since its arrival. to power in January 2021 […] The government added that this economic agenda has as priorities to make smart public investments, empower and educate workers to increase the middle class, as well as promote competitiveness to reduce costs.
CNN: The US economy is defying expectations, says Biden's top economic adviser
[Nicole Goodkind, 7/12/23]
The resiliency of the US economy is defying expectations — and the odds of a "soft landing" are improving, said Lael Brainard, President Joe Biden's top economic adviser, on Wednesday afternoon. New data from the Labor Department released earlier in the day showed that inflation rose last month by 3%, its slowest pace since March 2021. The news pushed markets higher, and Biden touted it as "Bidenomics in action."
NOLA.com: U.S. Energy Secretary unveils new funding for Louisiana program aimed at energy efficiency
[Stephanie Riegel, 7/12/23]
During a trip to the New Orleans area on Wednesday, U.S. Department of Energy Secretary Jennifer Granholm announced $90 million in federal grants aimed at helping local governments upgrade their building codes to make homes and other buildings more energy efficient, some of which will go towards new training programs in Louisiana. Of the $90 million in total awards, Louisiana will receive $1.6 million. That money will be used to train builders, contractors, architects, and local building codes officials, among others, about a set of new codes that went into effect in the state this year.
The First Lady in Columbus, Ohio
Columbus Dispatch: 'A job is more than a paycheck': Jill Biden celebrates Columbus launch as workforce hub
[Mark Williams, 7/13/23]
First Lady Jill Biden celebrated the official launch on Wednesday of the Columbus region's selection as one of five hubs nationwide meant to make sure that multibillion-dollar investments from Honda, Intel and other companies being made in the region turn into good jobs. "A job is about more than a paycheck," she told a gathering of workforce leaders and students at City Hall. "It's a path — a way to build the lives we want. And everyone deserves the chance to do just that." The Biden administration announced in May the selection of Columbus and other cities for an initiative called the Investing in America Workforce Hub in which leaders and other stakeholders in education, government, unions and the private sector will come together to build targeted approaches to train workers for the jobs these investments are creating.
The Black Wall Street Times: Bidenomics: White House lauds low inflation, low unemployment
In an interview with The Black Wall Street Times, White House National Economic Council Deputy Director Bharat Ramamurti spoke on the indicators that point to a healthy economy, his response to criticism from the right, and Biden's efforts to apply racial equity to the economic sector.
[Deon Osborne, 7/13/23]
The Biden Administration has reason to celebrate after the latest Consumer Price Index in June revealed an economy that is bouncing back from the brink of the pandemic. The Black Wall Street Times spoke with the deputy director of the White House National Economic Council to learn more about the effects of what Biden has called "Bidenomics." Inflation lowered to 3% in June from a 40-year high of over 9% just 12 months ago, signaling a swift easing of economic pressures that has forced many families to struggle to make ends meet.
Hartford Business Journal: In New Haven, U.S. SBA Administrator Guzman talks helping CT small businesses
[Michelle Tuccitto Sullo, 7/13/23]
Isabella Casillas Guzman, administrator of the U.S. Small Business Administration, toured several small New Haven businesses on July 11, during a visit to Connecticut with Congresswoman Rosa L. DeLauro. A key part of Guzman's role is serving as the voice for U.S. small businesses. She visited locations in Connecticut as part of the White House's "Investing in America" tour. President Joe Biden's Investing in America agenda includes several major spending initiatives like the Inflation Reduction Act, CHIPS and Science Act, Bipartisan Infrastructure Law, and American Rescue Plan. A key part of the strategy includes boosting infrastructure and clean energy investment and U.S. manufacturing.
Vice President Harris speaks at Coppin State University
The Baltimore Sun: Vice President Kamala Harris, EPA administrator announce green tech grants at Coppin State in Baltimore
[Dan Belson, Hannah Gaskill and Christine Condon, 7/14/23]
Vice President Kamala Harris and Environmental Protection Agency Administrator Michael Regan appeared Friday at Coppin State University to announce grant competitions totaling $20 billion that aim to advance the Biden administration's environmental justice goals. "I'm proud to announce the largest investment in financing for community-based climate projects in our nation, and one of the reasons it is so significant is because we also, frankly, have to make up for lost time," Harris told the packed crowd.
CBS Philadelphia: First Lady Jill Biden visits Atlantic City as part of "Investing in America" tour
[Ryan Hughes, 7/14/23]
It's been more than 30 years since Atlantic City hosted the National Governors Association Annual meeting. But, this year it's back in the Garden State.First Lady Dr. Jill Biden spent her summers growing up down the Shore and on Thursday she was back in Atlantic City for a speech on workforce development during the National Governors Association Annual Meeting at the Hard Rock Casino. "I think governors understand that preparing our workforce is so much bigger than a blue issue or a red issue," Dr. Biden said.Dr. Biden is traveling the country as part of the Biden Administration's Investing in America Tour.
Bidenomics on the Airwaves
MSNBC: Katy Tur Reports
TUR: Joining me now is the Director of the National Economic Council Lael Brainard. Thank you so much for being here. Let's first show the numbers about where the prices stand and how things have fallen. You'll see that every day grocery prices are down, gallon of milk is down, dozen eggs are down. Chicken and loaf of bread up slightly. Gas is down by a bit. What is behind the deescalating series of events?
BRAINARD: I think we see inflation now at 3%, as you said, down every month for 12 months, and that means that Americans are starting to really be able to see that at the grocery, just as you said. I think what is behind it is an economy that is stabilizing at a good steady rate of growth. We are seeing the supply side of the economy normalizing, and as a result, real earnings for Americans are going up. That's all happening against the backdrop of a very robust job market that has a lot of Americans back in jobs and back in the work force.
TUR: The President will say that Bidenomics is part of this, and the Inflation Reduction Act and the bills he was able to get through. Can you say those have filtered into the economy this quickly?
BRAINARD: Absolutely. You can see we have $520 billion worth of investment, in areas like clean energy, and semiconductors. Tens of thousands of infrastructure projects all around the country. And if you look at the job market, what has been really notable over the last six months or so is that we've seen the labor market coming back into really good balance. People rejoining the labor force at a pace that many people re predicted they wouldn't even a year ago, so we now have more Americans in jobs than has been true in 20 years, and that's taking place against the backdrop of a moderating labor market.
CNBC: Squawk Box
KERNEN: Joining us is Jared Bernstein, Chairman of the Council of Economic Advisers. You are a good soldier, you're here, you're fearless and you're here to make the case about the Biden economy and I appreciate it we heard we're going to have a soft or cooler CPI number, a prediction for that on Wednesday. If you do combine that with the last couple of months of job growth, things are -- I don't know if it's because of recent legislation but you would have some things you could definitely say are very positive in the economy right now.
BERNSTEIN: Yeah, I think the numbers make the case for Bidenomics I'm happy to come out here and talk about them but these are facts. So of course, we've had 13.2 million jobs since this President got here and, yes, we've seen some cooling in the job market and that's necessary and important if we're going to appropriately align labor supply and demand and when you ticked through the job numbers, you hit the highlights and you should but I think improvement in participation. We have a working participation rate at a high and for women it's the strongest going back to 1968 empower and educate the workforce and a low unemployment rate for 17 months, that's empowering for workers
MSNBC: Alex Wagner Tonight
BUTTIGIEG: Yes, I do think we should not be shy about making clear who was for and who is against this work. You will see that in terms of certainly me and cabinet colleagues hitting the road, the President and Vice President hitting the road. You can see that in terms of the story we are telling, signage, things to let people know how their tax dollars are being put to work.
Bharat Ramamurti, Deputy Director of National Economic Council: WJTV (CBS Jackson, Mississippi)
Ramamurti: You've seen more new small business starts by black owned black small business owners than we've had in the history of this country. We've also set up a really strong new program that operates through state governments which provide growth capital to small businesses. So, folks should check out what's available at their state about getting access to this kind of these grants or loans that help companies maybe open up a new location or bring on a few more employees."
Joelle Gamble, Deputy Director National Economic Council: KCPQ (Fox Seattle, Washington)
Gamble: We have a really resilient us economy. we're seeing that in the job's growth. We've never seen such a large drop in inflation, while also saying jobs growth, so I first say that the economy is very resilient and in part because the American worker is very resilient.
Bidenomics Resources
Fact Sheet: Vice President Harris Announces Actions to Lower Child Care Costs and Support Child Care Providers
Joseph R. Biden, Jr., ICYMI: This Week in Bidenomics Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/363772