Joe Biden pushes higher corporate tax, touts strong economy in key speech
Joe Biden called for higher taxes on corporations Thursday in his State of the Union address, while pushing for lower medicine costs and improved housing affordability, as he sought to allay concerns over the economy.
The 81-year-old outlined his agenda in the annual speech, in an effort to speak to voters' worries while taking credit for the recovery of the world's biggest economy as he seeks reelection this year.
Although the United States notably averted predictions of a recession last year as inflation cooled, Biden has struggled to convince voters on economic issues.
But he told the joint session of the House and Senate at the US Capitol: «Folks, I inherited an economy that was on the brink.»
«Now our economy is literally the envy of the world. Fifteen million new jobs in just three years — a record. Unemployment at 50-year lows,» he said.
Besides taking aim at Republican rival Donald Trump, Biden touted the economy's «greatest comeback story» under his own leadership.
Taxes, health care
Biden's economic proposals further an agenda the Democrat has been driving since the 2020 presidential race.
But for Biden to enact them fully, Democrats will have to win strong majorities in both chambers of Congress in November's elections — a situation which appears unlikely for now.
On Thursday, Biden said: «It's time to raise corporate minimum tax to at least 21 percent so every big corporation finally begins to pay their fair share.»
These are part of a
